Account head

TDS / TCS 728 views 1 replies

 our 20 clients wins following rewards for achieving sale target

1) Colour Tv
2) Foreign Tour

we are paying directly to company from whom we purchase tv / ticket.i need following clarifications

1) Is it to be treated as commission
2) Is TDS applicable. if yes , let tv cost rs 6000/- that amount i paid to company from whom i purchased tv ,then how i will pass a entry.is it to be grossed up.
3) Under which head i need to book expense
4) can i treat and book above as gift

Replies (1)

You can book it as Gifts.  Hence ques 1&2 would not be applicable.


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