How to claim back Advance Tax Paid

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Dev

Student

24 Points Posted on 09 February 2011

Hi,

I am just student and almost Zero about this tax things. So please when you give me answer give it in details. Here is my query.

I won iPod touch 8GB from Tata Docomo contest. Its price was about 12,000So I paid a tax of 3705on it. While fiilling income tax form I selected assessment year as 2011-2012. Remember I won it in October 2010. Now one of my friend told me that if i have selected 2011-2012 as assessment year then I can apply for refund of advance tax paid. Now can anyone please guide me how to claim for refund? Please tell me in detail. I cannot go to any CA as being a student I cannot pay a CA's Fee. So please don't tell me that go to CA.

Replies (4)

CA PARAS BAFNA

Practising CA

33428 Points Posted on 09 February 2011

"I won iPod touch 8GB from Tata Docomo contest. Its price was about 12,000 Rs. So I paid a tax of 3705 Rs on it."

Congratualations..... for winning .

You have been charged tax U/s 115BB at Flat Rate of 30%+Educational Cess.

You will not get TDS refund in this case.

Guest

Posted on 09 February 2011

first of tds is refunded when u pay tax on any income and cliam in u reture , however there a tax liablity of 30% aong with edu and seh on winning from any contest so even if u file the reture there is no claim of refund as these income is not eligible for minimum limit of income

so no need to go for filling of the reture bcause u cant claim refund on this tax paid if there is any other tax deduction u can claim by filling income tax refund