Umer (Student MBA) (26 Points)
26 July 2014Hi all,
I had won cash prize in a competition on Feb 20, 2013. The prize money was Rs. 40,000 and a tax of 30% (Rs. 6000) was applied on it . So we got only 70% of 40,000. It was said to us we can get back this amount as we are students .
Can someone guide on how to go about this ? I haven't done any tax claims so far .
Also when would be the last date for the same ?
Thank you..
Regards
Umer
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 26 July 2014
you can contact any tax professional and he will help you file your income tax return and get you refund of 6000
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 26 July 2014
yes umer, as u said u are a student, u must have no other source of income, only 40000/- will be exempt . Therefore u can get a refund of rs 6000/-. For that u will have to file your income tax return.
Umer
(Student MBA)
(26 Points)
Replied 26 July 2014
When would be the last day to do file income tax return ?
NILA REJESH P
(Chartered Accountant)
(815 Points)
Replied 26 July 2014
You have to file IT return claiming TDS refund on or before 31 st March, 2015.
Umer
(Student MBA)
(26 Points)
Replied 26 July 2014
Just confirming it , the amount was recieved on Feb 20 , 2013. So the time available is till Mar 31, 2015 , right ?
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 26 July 2014
Hitesh Khanna
(Accounting & Finance Taxation Company Law Audit )
(839 Points)
Replied 28 July 2014
I agree with the above replies
1. Due date 31st March 2015 and
2. TDS Refund Amount Rs. 6000/-
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
