TDS on Barter deal

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 March 2010 Dear All,

Can v deducted TDS on barter deal and if Yes or no how v pass in accounting effect.please provide me solution on this issue.
Barter deal is 200000/- from each side.He was provide me advertisment and my company provide rent a car.

With Regards,

Girish

Shyam Lal Naik

Shyam Lal Naik (Expert)
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27 March 2010 Both parties must have credited each other with an amount of Rs. 2L. TDS attracted on crediting of the amount to the account of the payee. Both party must deduct TDS on 2L as per applicable sections.

Mode of discharge is not relevant.