what will be the provisions of tds application on gifts/awards given to contractors for safety reasons.
is there will be different treatment for gift in cash or kind
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Tds on gift
Replies (2)
Dear Sagar
Gift /Reward paid for any person other than relatives will be treated as commission under section 194H.
If total value of gift/reward is more than 5000 than will have to deduct TDS @ 10% on any amount paid or credited in beneficiaries account.
You Most Wellcome.............
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