The Advertising Agencies Association of India (AAAI) and the Indian Broadcasting Foundation (IBF) have finally reached a compromise on the net billing issue. With this, the deadlock on running advertisements on television channels is broken and the broadcasters again started accepting ads from Friday. The advertisements were pulled off by the IBF starting May 1, following its tussle with the AAAI on the billing issue.
Officials from the two organisations met on Thursday to resolve the impasse.
Broadcasters, who were slapped with tax notices on account of non-deduction of TDS on agency commission, had stopped airing ads as advertising agencies did not agree to their proposal to move to net billing.
After resolving the deadlock, Arvind Sharma, AAAI president, said: ?Advertisers? spots will be back on air starting today. We have ensured that both broadcasters? and agencies? business interests are protected. We have found a solution that will meet the needs of our member agencies in terms of their transactions with their clients.?