TDS On Prize Money

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This discussion clarifies the correct section for deducting Tax Deducted at Source (TDS) on prize money awarded at an event. The consensus points to Section 194B as the applicable section for TDS on such winnings. This section specifically covers winnings from lotteries, crossword puzzles, and other similar sources, which aligns with prize money from an award function.

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(Querist)
01 February 2020 we are organize award function and award money is Rs. 1 Lakh.
Which head we are deposit TDS 94B or 94G

Thanks & Regards
Mritunjay Kumar
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RAJA P M

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RAJA P M (Expert)
01 February 2020 Tds will be deductible u/s 194B...
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Ca Neha Jain

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Ca Neha Jain (Expert)
02 February 2020 Tds deductible under section 194b
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
03 February 2020 https://www.caclubindia.com/share_files/file_preview.asp?files_id=78940
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