we are offering a car as gift for completing a sale target given to agent/networker.this person receives commission from us for sale on which we deduct tds and we gave him target to complete the targeted sale and offering a car. we will pay ex-showroom price of car directly to car agency and local taxes and other expenses will be borne by agent himself.
please advice me regarding tds applicability or any other tax implication on this transaction. and whether this to be treated as gift or as commission
Tds on gift
anuj (auditor) (154 Points)
25 November 2011