Tds on lucky draw
This query is : Resolved
22 January 2019
Dear Sir/Madam,
One of corporate assessee conduct lucky draw among their Employees and Dealers for achieving target.
in lucky draw few dealers win Car and bikes (amounting Rs. 1,00,000 above)
i have a doubt whether company required to deduct tds or collect tds amount from dealers
please suggest me along with case law, if any.
Thanks in advance
One of corporate assessee conduct lucky draw among their Employees and Dealers for achieving target.
in lucky draw few dealers win Car and bikes (amounting Rs. 1,00,000 above)
i have a doubt whether company required to deduct tds or collect tds amount from dealers
please suggest me along with case law, if any.
Thanks in advance
Dhirajlal Rambhia
(Expert)
27 September 2021
General practice is to collect TDS amount from the winners, before handing over the prize.
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