whether tds should be deducted on any gift to insurance agents?
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tds deducted
Replies (14)
no....
NO.
Nope, its only the commission or any amount paid in other mode for procuring business is eliegible for TDS.... not the gifts...
whether this shall be treated as commission or not?
n if it is not deductible, can i refer any case law or any section?
And if the gift is given by client, then Q for TDS doesn't arise...
if gift is being paid on achieving some targets then its related to business. Shall it become taxable then?
And if the gift is given by client, then Q for TDS doesn't arise...
Yup, in that case TDS is applicable...
As in lottery system, TDS amount is asked in cash and the prize is given... Similarily, if any amount is paid in any mode to commission agent for procuring business, is applicable for TDS...
noooo
in this case tds is not applicable
no
gift given to agent is not eligible for tds
see if its realted to business den it will considered as Business promotion expenses it lead to FBT so need to worry about the nature of transaction
hey fbt is no more there
hey fbt is no more there
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