Tds on cash award
GURTEJ SINGH (job) (31 Points)
09 March 2018
payment is to be made to winner of sports tournament in cash amounting to Rs. 13000. whether tds is to be deducted?
15 Replies
Srinivas Pyata
(543 Points)
Replied 09 March 2018
Yes, as per Section 194B TDS has to be deducted @ 30%
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 09 March 2018
As per my view.,
TDS will be deduct under sec 194J...
TDS will be deduct under sec 194J...
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 09 March 2018
Section 194B – TDS on Winnings from Lottery : According to section 194B of the Income Tax Act 1956, ‘The person responsible for paying to any person any income by way of winnings from lottery or crossword puzzle or card game and other game of any sort in an amount exceeding ten thousand rupees shall at the time of payment thereof, deduct income tax thereon at the rates in force’.
Here not include SPORT...
Srinivas Pyata
(543 Points)
Replied 09 March 2018
in my view 194J covers Fees(remuneration) i think remuneration and winning is totally different
194B covers winning of prize
194B covers winning of prize
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 09 March 2018
https://www.caclubindia.com/forum/tds-on-participation-fee-for-sport-activity-57005.asp
VINEETH.R
(FINANCIAL ACCOUNTANT)
(458 Points)
Replied 09 March 2018
How could we treat this case under 194j ? Please explain... Under 194B there is the term regarding games. I think this query would fit in to 194B
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 09 March 2018
| Originally posted by : VINEETH.R | ||
 |
How could we treat this case under 194j ? Please explain... Under 194B there is the term regarding games. I think this query would fit in to 194B |
 |
section 194B of the Income Tax Act 1956, ‘The person responsible for paying to any person any income by way of winnings from lottery or crossword puzzle or card game and other game of any..... No more definition of SPORTS... SPORTS IS DIFFERENT MEANING IN THE ABOVE WORDS IF GAMES.... Otherwise check above posted link. You can get some clarity..
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 09 March 2018
| Originally posted by : VINEETH.R | ||
|
How could we treat this case under 194j ? Please explain... Under 194B there is the term regarding games. I think this query would fit in to 194B |
|
section 194B of the Income Tax Act 1956, ‘The person responsible for paying to any person any income by way of winnings from lottery or crossword puzzle or card game and other game of any..... No more definition of SPORTS... SPORTS IS DIFFERENT MEANING IN THE ABOVE WORDS IF GAMES.... Otherwise check above posted link. You can get some clarity..
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 09 March 2018
| Originally posted by : VINEETH.R | ||
|
Yet it is confusing... |
|
In 194J - Professional / Technical Fees... Also other services that are accepted unders section 44AA are Film Artists, Company Secretary,....... Sport Persons..... and etc...
VINEETH.R
(FINANCIAL ACCOUNTANT)
(458 Points)
Replied 09 March 2018
Yes in that sense we can take this under 194J .
Recent Topics
- Income Tax for freelancing services
- Income Tax Return Filing Reg
- DRC 03 payment method
- GST Registration for Service Providers
- Tax for individual freelancing service providers
- LUT Number confusion! ARN or Reference Number
- Section 44ADA Query - 75 Lakh Limit Clarification
- GST on Rent RCM
- Clarification on GST Credit Note Rejection and Ret
- ITR filing as representative capacity
Related Threads
CAclubindia
