Tds on incentive
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 September 2015
Dear experts,
my company has given RS. 40000 incentive to security agency for their best performances, please tell me weather TDS is to be made on this 40000 incentive or not if yes how much and which section it will cover,
thank & regard
Mansi mittal
my company has given RS. 40000 incentive to security agency for their best performances, please tell me weather TDS is to be made on this 40000 incentive or not if yes how much and which section it will cover,
thank & regard
Mansi mittal
Rajesh Kumar
(Expert)
26 September 2015
TDS is required to be deducted if payment is made in persuance of contract. The payment is not a payment made in persuance of a contract. On a strict reading of the provision, it appears that TDS is not applicable. Still, it is better to deduct TDS to avoid dispute with the department.
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