Tds on gift given on achivement of sales

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 May 2014 Our company regularly comes out with the schemes for boosting sales. At the end of scheme period, there is a lucky draw whereby the first 5 winners are awarded with CAR/Bike/Jewelry/2 LCD TV's and rest 10 winners with Printers/MWO.

Now, when the Lucky Draw is under taken, we pay the amount of CAR/Bike to the supplier and dealer collects the same in his name and then the same is shown in our books.

Whether TDS is applicable on the gift given in kind on achievement of sales targets to dealers? If yes then under which section?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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10 May 2014 the ans is yes under tds provisions u need to decut tax at source.

Querist : Anonymous

Querist : Anonymous (Querist)

10 May 2014 Then under which Section 194B or 194H?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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10 May 2014 it will be under sec 194B.

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Tds on gift given on achivement of sales

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