How TDS will be deducted if Award is in kind and reciever have no money to pay.
4 Replies
Sachin More
(MBA-Finance Executive - accounts & Finance)
(422 Points)
Replied 22 November 2013
plz clarify which type of award it is ??? also from whom he is receiving ???
pankaj bagora
(student)
(47 Points)
Replied 22 November 2013
Okk...
If you won a prize while playing a game like "SUB Khelo Sub Jeeto" and many otherv shows telecasted on TV channels.
Avinash Tripathi
(CONSULTANT)
(118 Points)
Replied 22 November 2013
In such cases where the receipent of award or prize money is not paying the tax, the organiser of such play/ game is liable to deduct tax on the equivalent amount of prize in cash at 30%
Sachin More
(MBA-Finance Executive - accounts & Finance)
(422 Points)
Replied 22 November 2013
yes..u need not to pay tds on such prize money...organiser vl pay/bear
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