what will be the provisions of tds application on gifts/awards given to contractors for safety reasons.
is there will be different treatment for gift in cash or kind
2 Replies
J. K. Ratan
(Compliance Advisor)
(794 Points)
Replied 24 February 2015
Dear Sagar
Gift /Reward paid for any person other than relatives will be treated as commission under section 194H.
If total value of gift/reward is more than 5000 than will have to deduct TDS @ 10% on any amount paid or credited in beneficiaries account.
J. K. Ratan
(Compliance Advisor)
(794 Points)
Replied 24 February 2015
You Most Wellcome.............
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