CA Khyati Pithadia (Chartered Accountant) (173 Points)
22 November 2013Sir,
If cash prizes given for Navratri Competition and total amout of payment is for Rs. 11000 and Rs. 5500 is already paid and now payment arises for balance amout. Whether TDS liability arises on the same ?????
Please suggest me.
It is urgent plz........
Shivashish
(Chartered Accountant)
(2796 Points)
Replied 22 November 2013
Yes, there is TDS liabilty @ 30%. TDS will be 30%of 11,000/- and need to be deducted from balance payment.
CAclubindia
