Tds applicable or not
This query is : Resolved
29 March 2017
Dear Sir,
Our Company given us gift as 1 grams gold coin to each employee , In such cases company need to deduct the TDS total value is Rs.54000/-
Our Company given us gift as 1 grams gold coin to each employee , In such cases company need to deduct the TDS total value is Rs.54000/-
29 March 2017
Since the same is in nature of casual income for employees and same is of more than 10000 Co. need to deduct TDS @ 30%
30 March 2017
Sir, Can you give me any supporting for the same. Our Company showing this as staffwelfare Expenses with full amt.
Is it ok from Income tax department or we have to pay the tax on the same.
Is it ok from Income tax department or we have to pay the tax on the same.
30 March 2017
Actually staff welfare is totally different thing, Expenses incurred on welfare of staff for business purpose (which are of daily nature and minimal amount) should be classified as staff welfare but in your have mentioned that co. gives 1gm coin to each employee as gift which is a very large amount the same cannot be classified as staff welfare and TDS should be deducted on same.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
