24 December 2010
We are NGO for people aged above 55 and recently conducted an awards function to fecilitate the work of various senior peoples in their fields and gave them rewards in excess of Rs. 50000 each by cheque are these payments subject to TDS? Under which section?
24 December 2010
The section applicable would be 194B deduction of tax at source from winnings from lottery or crossword puzzle. This section includes all the games. The threshold limit is Rs. 5000/-.
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