Public company is making a sponsorship payment to an Institute, will there be any Tax deduction at source ???????
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TDS on Sponsorship payment
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ponsorship agreement is in teh nature of advertisement contract.
Hence In the case of sponsorship for debates, seminars and other functions held in colleges, schools and associations with a view to earn publicity through display of banners, etc., put up by the organisers,
the agreement of sponsorship is in essence an agreement for carrying out a work of advertisement.
Therefore, provisions of section 194C will apply. [Circular No.715 dt.8-8-1995]
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