Hello everyone, I have Winings from lotteries of 3lakhs which was reflected in 26AS under Section 194B. I wants to file my itr and get money refund. If i try to file ITR1, amount is showing refund but many are saying u shold not file ITR1. suggest me a good option to claim refund. I dnt have any other income
Menu
194b refund
Replies (2)
You are not eligible to file ITR1 ...... You must file ITR2
Secondly, no refund possible after TDS adjustment because.... the money received from winning lotteries, games shows, crossword puzzles, races etc. are considered as ‘income from other sources’. However, as per section 115BB of the Income-tax Act,1961, the entire income from above sources will attract tax at the rate of 30%, along with applicable cess and surcharge.
you also won't get basic exemption
Recent Threads
- GST ON QUERY
- Initimation on AIS
- GST on sponsorship from foreign body corporate
- Revised Income tax return karna padega kya
- Registration as deductor on traces site
- Rental Income from a Joint Holding property
- Itr 4 return filing question
- Whether GST applicable on Hardship Compensation pa
- ITC cannot be denied to Bona Fide Buyers for Suppl
- Unused ITC for Hotel after GST Change
Related Threads
CAclubindia
