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Advance tax on lottery income


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RAJA P M ("Do the Right Thing...!!!")     23 October 2019

RAJA P M
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Need not to pay tax by yourself as per above 2 question. TDs is deductible by the prize giver and it's enough to filing ITR...

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Vishesh Bhagat   23 October 2019

Vishesh Bhagat

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Think practically
if your TDS deducted @ 30% (240000)
you are filing ITR you showed 8 lac income
then what will be tax on 8 lac ?
it will be 249600.
but u can claim TDs only 240000.

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RAJA P M ("Do the Right Thing...!!!")     23 October 2019

RAJA P M
"Do the Right Thing...!!!" 
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At the time of TDS deduction Deductor also deduct that 4% as 249600... note, it's also not claiming amount ...


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