Tds on business promotion

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14 Points Posted on 22 December 2022
We purchase some various types of calendars for business promotion worth Rs. 1.20 lakhs, can i deduct tds? if yes, then which section will impose on this transaction.
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On 22 December 2022 at 11:19 Report
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This discussion addresses whether Tax Deducted at Source (TDS) applies to the purchase of calendars for business promotion, costing Rs. 1.20 lakhs. The consensus suggests that if the purchase is considered a contract, TDS under Section 194C would be applicable. A rate of 1% or 2% TDS is generally imposed on such contractual business promotion activities.

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CFO- at NHTF
58280 Points Posted on 22 December 2022
194J

if there is any contract then it is covered by 194C
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On 22 December 2022 at 14:03
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Chartered Accountants
2015 Points Posted on 22 December 2022

Business promotion activity is in nature of contract hence 1 % or 2% TDS applicable u/s 194 C

 

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On 22 December 2022 at 16:49

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