Tds on lottery maruti car
This query is : Resolved
26 December 2011
My query is TDS applicable u/s 194b @30% for wining from lottery and horse race, but if any poor person win a Maruti car from lottery but he is not capable to pay Rs. 90000/- as TDS for the car costing to Rs. 3,00,000/-, what will be treatment of TDS in this case ?? can anyone help me in this regard ? Is it mandatory to pay TDS in such cases ?
CA. RAGHAV GARG
(Expert)
28 December 2011
My wishes are with such a poor person whi have won Rs. 300,000/-.
He have to Pay Rs. 90,000/-. me may think he have won lesser amount but to live in india he have to follow law of land.
however after paying such, he can earn back such income by filing income tax return and can avail benifit of minimum amount not chargeable to tax.
& beleive, he is not a poor person anymore.
He have to Pay Rs. 90,000/-. me may think he have won lesser amount but to live in india he have to follow law of land.
however after paying such, he can earn back such income by filing income tax return and can avail benifit of minimum amount not chargeable to tax.
& beleive, he is not a poor person anymore.
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