Refund of tds deducted from prize money
This query is : Resolved
Litan dhar
(Querist)
17 April 2019
House wife - No other income - last financial year (2018-19) got one prize money from competition Rs.25000/-they deducted Rs.7500/- as TDS can I got this back as i have no other income."
CA Ankit R Momaya
(Expert)
18 April 2019
Yes, you can get the same. However, you will be required to file your Income Tax Return for the Relevant AY.
Message likes :
1 times
18 April 2019
The income has to be taxed at 31.20% u/s 115BB. So eligible refund is limited to
Rs.2,300 only since rebate u/s 87A can be claimed on such income/tax thereon.
Rs.2,300 only since rebate u/s 87A can be claimed on such income/tax thereon.
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