Menu
Income for winning prize
one person has tds deducted for winning prize under section 194B . the person is below the taxable limit. can he get refund if he file return
Replies (7)
Yes, ....of course
Thanks
Casual income is taxable at a flat rate of 30%. No deduction under Chapter VI A or basic exemption limit is available for such income.
However he can claim tax rebate upto Rs.12,500/- u/s 87A if his total income does not exceed Rs.5 Lacs.
However he can claim tax rebate upto Rs.12,500/- u/s 87A if his total income does not exceed Rs.5 Lacs.
Ok, is interest of house loan comes under chapter VI A
Interest on housing loan can be claimed as follows-
u/s 24(b) if Self occupied property- Max claim upto Rs.2 lacs.
u/s 24(b) if let out- To the extent interest paid.
The above do not come under Chapter VI A deductions.
But you cannot claim the HP loss against your casual income.
u/s 24(b) if Self occupied property- Max claim upto Rs.2 lacs.
u/s 24(b) if let out- To the extent interest paid.
The above do not come under Chapter VI A deductions.
But you cannot claim the HP loss against your casual income.
From where I have to show in ITR-2 sir
I did not get you :(
Recent Topic
- TIS Glitch Alert : inflated summary
- IT returns of partners
- Challan status in Payment Failed but amount deduct
- Sec 54 exemption
- Query regarding retirement benefits
- TDS Payment and filing
- Capital gains exemption under sec 54
- Revamped traces portal, conso file download failed
- Due date of ITR for Option Trader
- Cancelled invoice entry
Related Topics
CAclubindia
