27 February 2014
One company purchases Gift vouchers, for the purpose of distribution to its employees, of equal amount from the another company and payment for the same is also made. Whether this payment attracts tds deduction liabilty ? Further, under which section tds liability arises ?
27 February 2014
Gift voucher does not attract any TDS liability as it is a type of perquisite to the employees and if at all the TDS is to be deducted the same is to be included in the total income of the employee and accordingly it is to be deducted u/s 192 as perquisite.
CAclubindia
