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Tds on barter deal
whether tds is applcable on barter deal if yes under which section tds to be deducted and by whom ?
Replies (6)
What are the goods or services exchanged? TDS rate will be as per the original rate applied to the services exchanged...
The barter deal is between News print media
As per sec 194C of IT act...
Thank you for your prompt reply ...who is liable to deduct tds....the deal is between news print media and catering service provider and automobile showroom to publish their advertisement...
Both are service receivers.... applies to both....
What will be the journal entries to account such transaction...if deal amount is rs 50000 and one party is individual and other is corporate.
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