Query

TDS / TCS 380 views 2 replies

one of my friend being a student received  electronic aplicance on the basis of lottery draw . now company demended tds on lottery prize , my question is that such tds amount can be claimed as refund given the fact that such such does not have any other income

Replies (2)

Yes of course you can claim it. If your friend does not have any other income then this price of this gift only will be his income and he can claim credit of that.

but lottery income are chargeable to flat rate of 30% ,so basic exemption limit benefit are not available.then how can we claim refund


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