Tds rate applicable to event management compnay

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 November 2015 1. We have to make a payment to Event Management Company which is Proprietorship Firm, what will be the rate of tds to be deducted ?

2. If TDS is to deducted u/s 194C under which accounting Head can the expense be claimed and if TDS is to deducted u/s 194J under which accounting Head can the expense be claimed. Pls provide accounting Head expense for both

CMA Ashutosh Kumar Gupta

CMA Ashutosh Kumar Gupta (Expert)

03 November 2015 U/s 194C TDS @1%, head TDS Payable Account (CREDIT), to pay via TDS-OTHER Head

Querist : Anonymous

Querist : Anonymous (Querist)

03 November 2015 Under which head the expense has to be booked

CMA Ashutosh Kumar Gupta

CMA Ashutosh Kumar Gupta (Expert)

03 November 2015 TDS is not an expense

Querist : Anonymous

Querist : Anonymous (Querist)

03 November 2015 not TDS, the amount paid to Event Management Company will go under which expense head

CMA Ashutosh Kumar Gupta

CMA Ashutosh Kumar Gupta (Expert)

03 November 2015 It entirely depends upon the nature of activity whether brand promotional or purely a marketing event; broadly this is treated as marketing expense in accounting paralance.

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