CASUAL INCOME

HELLO FRIENDS, MY CLIENT HAS WON A T.V, AND IT WANTS MY CLIENT TO DEPOSIT THE TDS AMOUNT

AFTER THAT THEY WILL GIVE TV TO IT.

CAN THE TDS DEPOSITED CAN BE CLAIMED AS REFUND IF HE HAS NO OTHER INCOME.

OR IT HAS BEEN TAXABLE EVEN HE HAS NO OTHER INCOME.

PLS. HELP ME.

Replies (6)

Yes... TDS deposited can be claimed as refund even if der is no other income....

Yes... TDS deposited can be claimed as refund even if der is no other income....

Originally posted by : Darshu

Yes... TDS deposited can be claimed as refund even if der is no other income....

@ Rohit can you specify section of TDS stating that refund cannot be given..?.... Please refer to section 58(4) provided by you properly...

I also agree that refund will be granted back....

thanks

Dear Friendz,

Winning of "TV" (or anyother thing for that matter) in any contest or games, etc will be chargeable under head other sources...

No expenses will be allowed from this income - Sec 58(4)

TDS will be deducted u/s 194B, where Gift amounts exceeds Rs. 5,000

Income will be taxable u/s 115BB @ 30% {IRRESPECTIVE OF ASSESEE'S SLAB & NO REFUND CAN BE CLAIMED EVEN IF ASSESEE HAS NO OTHER INCOME}

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