can refund deducted U/s 194b?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 July 2011
sir
a client received a car from a luck dip scheme in new year time. the showroom owners deduct u/s 194b 30%on gift(car maruthi alto) rs. 64253/-
client paid insurence & taxes.
client is asking claiming deducted amount.
a client received a car from a luck dip scheme in new year time. the showroom owners deduct u/s 194b 30%on gift(car maruthi alto) rs. 64253/-
client paid insurence & taxes.
client is asking claiming deducted amount.
19 July 2011
AS PER SECTION 115BB SUCH TYPE OF INCOME ARE TO BE TAXED AT A FLAT RATE OF 30 PERCENT
U HAVE NOT DISCLOSED OTHER INCOME DETAILS OF THE ASSESSEE
SO A SUITABLE REPLY CANNOT BE GIVEN
CA MANOJ GUPTA
JODHPUR
09828510543
U HAVE NOT DISCLOSED OTHER INCOME DETAILS OF THE ASSESSEE
SO A SUITABLE REPLY CANNOT BE GIVEN
CA MANOJ GUPTA
JODHPUR
09828510543
Message likes :
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19 July 2011
The TDS shall not be refunded in any case. However, you need to file return of income showing the details of gift received and the tax thereon @ 30%. But you need to pay education cess on the same as TDS in only for basic amount.
Message likes :
1 times
19 July 2011
Your client is required to pay 3% more tax as education cess has not paid. TDS can not be refunded even if he is having no income
Message likes :
2 times
19 July 2011
Yes I agree with the experts
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1 times
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