Tds on incentive
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 September 2015
Dear experts,
my company has given RS. 40000 incentive to security agency for their best performances, please tell me weather TDS is to be made on this 40000 incentive or not if yes how much and which section it will cover,
thank & regard
Mansi mittal
my company has given RS. 40000 incentive to security agency for their best performances, please tell me weather TDS is to be made on this 40000 incentive or not if yes how much and which section it will cover,
thank & regard
Mansi mittal
26 September 2015
TDS is required to be deducted if payment is made in persuance of contract. The payment is not a payment made in persuance of a contract. On a strict reading of the provision, it appears that TDS is not applicable. Still, it is better to deduct TDS to avoid dispute with the department.
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?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- RCM INVOICING FROM NOV-2024
- Confusion around Form 26QB fields
- Tds on building rent monthly
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
Trending Online Classes
CAclubindia
