The CBDT has issued Circular Nos. 04/2016 and 05/2016, both dated 29.02.2016. In Circular No. 04/2016, the CBDT has explained the law relating to Tax Deduction at Source on payments by broadcasters or television channels to production houses for production of ciontent or programme for telecasting. In Circular No. 05, the CBDT has explained the law relating to Tax Deduction at Source on payments by television channels and publishing houses to advertisement companies for procuring or canvassing for advertisements.
Now a days on every channel game shows, prize winning games etc. are being hosted with lots of money ranging from Rs. 10000 up to Rs. 1 Crore. On inquisition I wished to know whether any such prize moneys were being virtually awarded it is stunning to note that except the leading shows like Kaun Banega Crorepati in all most all the game shows the prize money shown on TV screens was in fact was not given but only a fraction say 10% of it is being given.
If it is true the IT department should take a serious note of the issues.