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TDS on Cricket Tournament PRizes

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(Querist)
24 December 2008 Sir,

We(a Private Limited Company, doing online ad business) r organising A Cricket Tournament & winner will get Rs. 200000 per team.

So i want to know the rate of TDS & Section of IT Act under which it will be deducted. Thanks
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CA Tilak Raj Sharma

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CA Tilak Raj Sharma (Expert)
25 December 2008 First of all clerify the status of entity organising the tournament.

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