Dear All,
30/03/2011
Now, TV industry set to face TDS on sale of air-time slots
Already burdened with multiple taxation, the television industry has more bad news coming. The central tax authorities are set to deduct TDS (tax deducted at source) or tax deducted at source on the sale of on-air time slots. The TDS will also apply on the creators of sponsored shows on cable and satellite channels from the fiscal beginning April 1. Currently, there is no provision of TDS on the advertising revenue generated on television. Experts said the move will put extra burden on media buying agencies from next month as they buy the on-air time slots on various channels on behalf of advertisers. Even broadcasters will have to maintain the details of their inventory sold to the advertisers including the details of TDS deducted on the transactions.
Source:
CAclubindia
