Dear Sir,
Our company is properitorship company.
We paid Rs.98000/- by cheque to individual sports person for his individual expenses (meet sports competition).
TDS is applicable for this payment ?
If applicable, what is the TDS Rate..?
Thanking You,
M.Shanmugasundaram
Sponsorship is an activity which is in the nature of Advertisement and in case of payments to Resident Individual TDS is required to be deducted under section 194C, @ 1%
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