TDS u/s 194R on free gifts given against redemption of points
This query is : Resolved
19 August 2022
A company puts coupons in its products having different-different values in points. Ultimate consumer collects these points and after accumulating certain points, redeems those points against which company has to deliver the gift as per its policy to that person. Now if the value of that gift is more than Rs. 20000, then TDS u/s 194 R will be applicable or not. Generally, with such consumers company has no direct relation. The company also has no information about these consumers except name and address which they provide at the time of redemption of points only through company’s application for this purpose. So, PAN etc also not available with the company. So, if the company decides to deposit TDS from its own then how this should be tackled because no of transactions are in large quantity.
19 August 2022
TDS applicable obtain PAN and deduct TDS.
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