Our company is making a sponsorship payment to a indian sportsperson (Individual) a sum of Rs say 10,00,000
So TDS should be deducted in which section.
Please reply ASAP
Regards,
Rahul
2 Replies
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 24 May 2011
as sponsership is made with some future interest as per contract, so TDS would be applicable as per contract,
view of other members are also solicited.
Rahul Agarwal
(Future CA)
(217 Points)
Replied 24 May 2011
In contract there has been a specific clause mentioned regarding Sponsorship payment which says" Any payment...............................................to an association or school or colleges. It nowhere talks about Individuals .
But anyways thanks for the reply Mr Sharma. As usual Ur gr8.
and thanks 2 sunny also.
I went through section 194J and felt more confident about it and made the payment accordingly by deducting @ 10%
Regards,
Rahul
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