is tds applicable on sponsership charges, if yes , under which section.
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Tds on sponsership fees
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It may be applicable under section 194C, depending upon the terms of the agreement.
Refer Circular 715 dated 8-8-1995 issued by CBDT..... Question No. 18 in that cricular answers the same.
yes. TDS u/s 194C
The agreement of sponsorship is, in essence, an agreement for carrying out a work of
advertisement. Therefore, provisions of section 194C shall apply.
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