Hello everyone,
I have a small query -
In a marketplace kind of model, if the vendors are paid only through Gift Vouchers (no real cash going to their bank accounts), will TDS provisions be applicable ?
Thanks in advance for your time and attention to this query.
The gift voucher would be deposited to bank by the vendor, just like cheque/s. Your TDS liability doesn't nullify.
Thank you Rohan.
No, these will not be cash redeemable vouchers. These will only be Amazon, Flipkart, Big Bazar kind of vouchers. Will the TDS principles still apply ?
Even then you have to pay for the coupons, which in turn qualifies payment for the service/s which needs TDS deduction.
Payment through coupan is merely a option of payment it will not change the applicability of TDS provisions.
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