is there any tds implication of tds on holiday packages given to winner. Eg: our company has conducted one lucky draw and in that the winners got holiday packages of 2 or 3 days to singapore for free of cost, this whole expenses is bearing by our company. so want to know whether tds is applicable on it or not ?
i think no tds will be deducted on it bcz trip is sponsered by company. it is not winning from lotteries or puzzles.
this in nature of lotterry winnings. so we shall gross up the value of trip by multiplyinb by 100 and diving by 69.7. and pay tds accordingly
YOGESH KAPOOR AND ASSOCIATES
New Delhi
B.Com
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V.K. Ranjan & Co(Chartered Accountants)
New Delhi
B.Com
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Vardhaman Group of India
Pimpri Chinchwad
CA Inter
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CAclubindia
