We are paying sponsorship to some Society for Rs.35000/-, can someone please suggest the applicability of TDS.
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TDS On Sponsership
Replies (3)
Sponsorship for what?
With few assumptions based on your Query. You are not required to deduct TDS on sponsorship given to society. It is not covered under any levy sections of TDS.
Thanks
Thanks
Sponsorship payment is covered under Section 194C.
This clause is applicable only if a single payment exceeds30,000/- or aggregate payment during the year is more than 100000/- whichever is earlier.
TDS is deductible under Section 194C @ 1% if the payment is made to an individual / HUF or @ 2% if payment is made to other persons
This clause is applicable only if a single payment exceeds30,000/- or aggregate payment during the year is more than 100000/- whichever is earlier.
TDS is deductible under Section 194C @ 1% if the payment is made to an individual / HUF or @ 2% if payment is made to other persons
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