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Discussion > Income Tax > TDS >

Section 194b on TDS on winning from lottery

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[ Scorecard : 30]
Posted On 14 July 2011 at 15:00 Report Abuse

Dear Madam/Sir,

I had brought a New Sony television in Nov 2010, was supplied with a lucky draw coupon. Was informed in Feb 2011 that i have won a playstaion worth Rs19000.

I claimed the prize in March 2011 and now they have added TDS on winning from lottery -in form 26AS under sec 194B for Rs 6293.00

My first question is Can i treat this like a normal TDS and claim TDS benefit or how can I get benefited from this.


Amit Agarwal



Online classes for CA CS CMA

U S Sharma

[ Scorecard : 19438]
Posted On 14 July 2011 at 15:02

TDS from winning is not eligible for credit

Amol Gopal Kabra (CA,CS,DISA)
Practicing CA

[ Scorecard : 7548]
Posted On 14 July 2011 at 15:13

It is eligible for credit. But only against the winnings from Lotteries. You have to show your income from lotteries, even if it is in kind. You need to report the value of the winnings and have to show it separately taxed under special rates. From the computation of such tax, you'll get the deduction i.e. credit of this TDS.

@*Siddharth Bumb. *
B.Com CA Final CS Professional

[ Scorecard : 5239]
Posted On 14 July 2011 at 15:37

Originally posted by : U S Sharma

TDS from winning is not eligible for credit


[ Scorecard : 30]
Posted On 21 July 2011 at 20:05

Guys please if anyone can help me to know what entry should i post.

To ______________ 14683

By P & L a/c                               8390

By TDS                                        6293


Member (Account Deleted)
Tax faculty & Tax consultant

[ Scorecard : 1123]
Posted On 21 July 2011 at 22:32

If this TDS amount is paid by the payer then it will be treated as your income and shall be taxed.

19000 + 6293 = 25293.

tax 30% on 25293 =  xx

Less : tax credit        6293

tax payable                xxxx


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