https://credfino.com/
Tax consultancy for ad submission primarily focuses on:
GST (Goods and Services Tax):
Most ad services are at 18% GST.
Selling only ad space in print is 5% GST.
Crucial for claiming Input Tax Credit (ITC) on GST paid for advertising.
Applicable under Reverse Charge Mechanism (RCM) for foreign service providers.
TDS (Tax Deducted at Source) under Section 194C:
1% for individuals/HUFs, 2% for companies/firms on payments to advertising agencies.
Applicable above specific financial thresholds (₹30,000 for single contract, ₹1,00,000 annually).
Direct payments to print/electronic media usually attract 1% TDS.
Income Tax Deductibility:
Advertising expenses are 100% tax-deductible under Se...
https://credfino.com/
Tax consultancy for ad submission primarily focuses on:
GST (Goods and Services Tax):
Most ad services are at 18% GST.
Selling only ad space in print is 5% GST.
Crucial for claiming Input Tax Credit (ITC) on GST paid for advertising.
Applicable under Reverse Charge Mechanism (RCM) for foreign service providers.
TDS (Tax Deducted at Source) under Section 194C:
1% for individuals/HUFs, 2% for companies/firms on payments to advertising agencies.
Applicable above specific financial thresholds (₹30,000 for single contract, ₹1,00,000 annually).
Direct payments to print/electronic media usually attract 1% TDS.
Income Tax Deductibility:
Advertising expenses are 100% tax-deductible under Section 37(1) as business expenses, provided they are incurred "wholly and exclusively" for business.
Equalisation Levy (Digital Tax):
The 6% Equalisation Levy on online ads by non-residents is scrapped from April 1, 2025.
