Can i claim refund back of t.d.s deducted from u/s 194-b
This query is : Resolved
10 December 2011
dear experts,
my wife got prize from Co Op mandali(AOP)by saving certificate schemes which we will get double after 6 years.my wife gets prize of refrigerator but we have paid tax @ 30 % forto got it. can we claim of this amount for refund because my wife had no such other taxable income.please reply on it
my wife got prize from Co Op mandali(AOP)by saving certificate schemes which we will get double after 6 years.my wife gets prize of refrigerator but we have paid tax @ 30 % forto got it. can we claim of this amount for refund because my wife had no such other taxable income.please reply on it
CA PARAS BAFNA
(Expert)
10 December 2011
You can not claim refund of TDS on winning from lotteries , crossword puzzles etc. This prize is of the same kind and as such TDS can not be claimed as refund.
Ratan Sharma
(Expert)
10 December 2011
It will depend on the terms & conditions of the scheme. If the refrigerator is in the nature of prize then you can not claim the refund. But if you have received refrigerator as per the saving scheme then then you could get the refund.
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