Tds
This query is : Resolved
05 March 2015
whether TDS is applicable for sponsorship services?
06 March 2015
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]
06 March 2015
TDS to be deducted if threshold limit is crossed.
Threshold limit:
Single Bill/Payment Rs 30000/-
Annual Total Rs 75000/-
Rate of TDS:
Individual/HUF @1%
Others @ 2%
No PAN @20%.
TDS to be deducted on amount excluding Service Tax.
Threshold limit:
Single Bill/Payment Rs 30000/-
Annual Total Rs 75000/-
Rate of TDS:
Individual/HUF @1%
Others @ 2%
No PAN @20%.
TDS to be deducted on amount excluding Service Tax.
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