Tds on prize money

Deepak Tapse (Accounts Manager - Taxation)   (1771 Points)

29 December 2016  

A company is offering prize money of Rs. 100000/- to the winner in compition of TV Show. In this case, if company paid TDS on behalf of winner (winner will get full amount of Rs. 100000/-), TDS is to be deposited Rs. 30300/- ( @ 30.3% on Rs. 100000/- or 43475/- (Grossingup) (30.3% on Rs. 143475/-) Pl confrim  the same with relevant section.