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Tds on lucky draw

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(Querist)
17 November 2013 if a partnership firm gives two wheeler in lucky draw contest what will be Tds liability umder Income Tax and if he receives discount on purchase of this two wheeler then on which amount Tds liability will be there and who has to pay tax and under which section and on which amount ex showroom or discounted price. please reply.
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Arun

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Arun (Expert)
17 November 2013 TDS will be deducted under section 194B @ 30.9 (i.e including E.C & S.H.E.C.) on the fair value of the two wheeler on the date of distribution and not on discounted price
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
17 November 2013 30% of the value of the two wheelers.

Now with regards to the value, use the final landed value in your books ie the final invoice value.

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Arun

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Arun (Expert)
17 November 2013 Nikhil, Final landed value in whose books lucky draw winner or the giver?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
17 November 2013 the books of the giver
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