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TDS on sponsorship(Urgent)

This query is : Resolved 
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(Querist)
22 April 2009

Dear friends, our company is going to become a sponsor in a seminar. The organisor have raised a bill of Rs. 4 Lac for the same. Have we to deduct tds on it? In which section 194C or 194J?
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CA. Mahesh Agarwal

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CA. Mahesh Agarwal (Expert)
22 April 2009 yes u have to deduct TDS
u may deduct TDS u/s 194C @ 1% (advertising contract)
One thing u must keep in mind, on this payment u have to pay service tax @10.3% under reverse charge and for this u have to take service tax registration no.
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