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Tds deducted from prise money.

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Querist : Anonymous

Querist : Anonymous (Querist)

15 February 2014 i have won the car in hosing draw system, instead of taking car i have taken cash money of such amt.party has deducted the tds of Rs.125000 as tds @ 30%.

should i can claim refund of such amt??

thank you.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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15 February 2014 no...you cannot claim refund of such taxes. prize money is taxed at flat 30% without deduction on any ground including basic exemption limit and Chapter VI deductions.

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Querist : Anonymous

Querist : Anonymous (Querist)

15 February 2014 thank you so much sir.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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15 February 2014 you are welcome friend

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