Sec -194B
This query is : Resolved
12 October 2009
Please tell me whether basic exemption limit of Rs.5000 is to be deducted while calculating the TDS u/s 194B (Winnings from Lotteries. I mean tax on Rs.30000 will be after deduction of Rs. 5000 or without deduction.
M very confused as some books deduct rs.5000 while some dont. Till I know it should be deducted on Rs.30000/-
M very confused as some books deduct rs.5000 while some dont. Till I know it should be deducted on Rs.30000/-
12 October 2009
on 30000
12 October 2009
no it will not be deducted while deducting TDS. E.G. mr x won lotteries of 30,000 the tds of 33.66% i.e.10,098 will be deducted and he will get 19,902 rs.
However, claiming of refund is possible after comupting total income.
However, claiming of refund is possible after comupting total income.
13 October 2009
Thanx 4 help
13 October 2009
Just to mention the rate will be 30% only , no surcharge or edu. cess unless paid to NRI/Foreign company
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Treatment of Pension ?annuity returns on PMVY
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Last year TDS Claim
- Long Term Service award taxability in hands of company
- Loan by Partnership Firm
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
