1. Our company offering some gift like TV, Firdge etc. on specific amount of purchase. In this reg. TDS applicable or not. Also if any TAX applicable or not
2. If we give cash instead of gift then also TDS applicale or not.
Deepak Tapse (Accounts Manager - Taxation) (1771 Points)
29 September 20111. Our company offering some gift like TV, Firdge etc. on specific amount of purchase. In this reg. TDS applicable or not. Also if any TAX applicable or not
2. If we give cash instead of gift then also TDS applicale or not.
SANYAM ARORA
(“It's hard to beat a person who never gives up.”)
(20168 Points)
Replied 29 September 2011
Not applicable......!!!!!!
@ ! @
S.S.D.N
swati
(Officer-Accounts-Shared Services)
(67 Points)
Replied 29 September 2011
i think tds is applicable...as per the ammendment if the assessee is giving gift in kind to any person free of cost...then on that tds is applicable....
vikas Agarwal
(Article & Ca Final Student)
(125 Points)
Replied 29 September 2011
agree With Amit Ji
ACMA Obulirajan R
(M.Com, ACMA)
(1119 Points)
Replied 29 September 2011
TDS will not be applicable as this is the scheme which company offers to customer.
Eg.. If you purchase 1 LCD you will get 1 DVD as free
The DVD cost has already been included in the cost of LCD and on that company is paying VAT.
Hence There will not be any TDS applicability in this case.
CA PRAVEEN SINGH
(MANAGER ACCOUNTS)
(2277 Points)
Replied 29 September 2011
under which sec u can deduct.....so specific....sec
NO TDS DEDUCTED....
CA PRAVEEN SINGH
(MANAGER ACCOUNTS)
(2277 Points)
Replied 29 September 2011
NO IN THIS TRSACTION NO TDS IS DEDUCTED...
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 29 September 2011
| Originally posted by : Deepak Tapse | ||
 |
1. Our company offering some gift like TV, Firdge etc. on specific amount of purchase. In this reg. TDS applicable or not. Also if any TAX applicable or not 2. If we give cash instead of gift then also TDS applicale or not. |
 |
depends on the accounting of the gifts, if the gifts are made from capital reserve ( post tax capital account) then no TDS, but
if the gifts are claimed as expenditure in P/L as business promotion expenses, then its part of commission and hence TDS applicable.
gifts are not taxable coz its capital tranfer from the hands of doner, and on which the doner has already paid the taxes as per their slab rate !!
Mohita Mahajan
(CA Final)
(32 Points)
Replied 30 September 2011
Deepak Tapse
(Accounts Manager - Taxation)
(1771 Points)
Replied 30 September 2011
What about if we pay amount instead of Gift.
ACMA Obulirajan R
(M.Com, ACMA)
(1119 Points)
Replied 01 October 2011
Even if you pay Amount i.e. CN.. TDS will not applicable.
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