We have operated a Lucky Draw scheme for consumers. Example are as follows :
If a customer buy our product for Rs.2000/- will get a coupon.
One lucky draw will be conducted and will be given the winner a Motor Bike ( Cost Rs.40000/-)
KINDLY LET ME KNOW, WHETHER COMPANY HAS TO DEDUCT TDS
Dear Vignesh,
Yes Co has to collect money from the winner equal to 30% of the value of Bike & deposit it with the Govt. as TDS
Mr.Vignesh,
Mr.Amir is right..... Company has to collect money from the winner( i.e.30% + cess) of the value of Bike & deposit it with the Govt. as TDS....
CAclubindia
