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Tds on sponsorship

This query is : Resolved 
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(Querist)
17 August 2012 Hi,

Our company is sponsoring an event organised by CII of Rs 500000.

My question is that under which section TDS should deducted.

Regards,

Ravi Konda
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CA Navin Jain

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CA Navin Jain (Expert)
17 August 2012 the agreement of sponsorship is in essence an agree­ment for carrying out a work of advertisement.

Therefore, provi­sions of section 194C will apply. [Circular No.715 dt.8-8-1995]

Further sponsorship is covered by reverse charge from 01.07.2012 under service tax, hence sponsorship organiser also liable to pay srevice tax.
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