TDS on Sposorships
This query is : Resolved
C V RATNAM DHAVEJI
(Querist)
18 October 2008
Hi Everybody
Could you please throw some light on
Whether provisions of TDS are attracted for sponsoring an event?
Ex. A corporate wants to sponsor a sports event of students of a University College. The amount is not paid to the University but to the organizing committee of the event (of course by way of crossed cheque to the credit of a specially opened bank account for this - like say "XYZ College Sports Day 200X")
Pl slso clarify the position if the amount is paid to the University which is established by an Act of Parlament.
Thank you
Could you please throw some light on
Whether provisions of TDS are attracted for sponsoring an event?
Ex. A corporate wants to sponsor a sports event of students of a University College. The amount is not paid to the University but to the organizing committee of the event (of course by way of crossed cheque to the credit of a specially opened bank account for this - like say "XYZ College Sports Day 200X")
Pl slso clarify the position if the amount is paid to the University which is established by an Act of Parlament.
Thank you
CA Tilak Raj Sharma
(Expert)
15 November 2008
The sponsership of debates, seminars and other functions in school/college/associations is in essence an agreement for carrying out a work of advertisement. Therefore, provisions of section 194C shall apply - Circular No. 715 dated 8.8.1995.
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