T.d.s and itr

This query is : Resolved

ANIMESH PANDEY (Querist)
Follow

12 March 2014 sir if i won 25 lakh in a reality show let say indian idol and except this i dont have any income in that financial year .
1) what is the tax implication in this case?
2) which itr i should file?
3) can i claim refund for higest rate of tax?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

12 March 2014 1. The income is taxable @ 30%.
2. You have to file ITR 2
3. You CANNOT claim refund for the tax paid.

ANIMESH PANDEY

ANIMESH PANDEY (Querist)
Follow

12 March 2014 why i cant claim refund ? Mr. bhardwaj upto income of 10 lakh i shall be liable to tax at 10%( upto 5 lakh) and 20%( above 5 lakh to 10 lakh)and as you know t.d.s shall be deducted @30% u/s 194b on whole amount of 25 lakh

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

13 March 2014 In case of winning from lotteries, crossword puzzles, games, etc. income is taxable at a flat rate of 30%. Slab rate is NOT applicable to such income.

Accordingly you CANNOT claim refund.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

office docs

Arun Borad

MUNISH KUMAR

RISHI LATTA

CA Aakarsh Jain

Subscribe Now

T.d.s and itr

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Manager- Finance and Compliance

GST CONSULTANCY

Accountant

Senior Executive

GST CONSULTANT