Diffrent sportsmen are endorsing diffrent products and they
have endorsement agreements for this. Now at what rate the
tds should be deducted by the company on the amount of
payments msde to sportspersons for endoresements?
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Answer / Shish Ram
The tax deduction on endorsement income for Indian residents is governed by Section 56(2)(vii) of the Income Tax Act, 1961. The prescribed rate of tax deduction at source (TDS) for payments made to a sportsperson in India is generally 10%, but it can vary depending on the specific terms and conditions agreed upon in the endorsement agreement. It is advisable to consult with a tax expert or chartered accountant for accurate advice.
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