TDS applicabilty on gift to customer

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 May 2010 we, PVT Ltd co has given a gift (TV) to customer as apert of business promotion,Pklease let me know the applicabilty of TDS and which head this exp should be shown

Shyam Lal Naik

Shyam Lal Naik (Expert)
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25 May 2010 It does not appear to fall under tds net.

madhav

madhav (Expert)
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25 May 2010 you company gave a gift(TV) to ur client as a part of business promotion......
it is a business promotional expenditure and no need to deduct Tds on this payment but ur company has to pay Frienge benefit tax on this payment......i think it is better, Once u reed the FBT provisions......

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Shyam Lal Naik

Shyam Lal Naik (Expert)
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25 May 2010 FBT abolished wef 01.04.09

Querist : Anonymous

Querist : Anonymous (Querist)

27 May 2010 Thank you all for the kind updations