Dear Experts,
During Assessment Year 2011-2012,My client won a bike as winnings ,and TDS for the same has been deducted for Rs.10980. Her taxable income other than winnings is below the basic exemption limit.Kindly advise ,whether the provisions of Income Tax Allow to claim the refund of Tds deducted of Rs.10980.
TDS on lottery winning is at the flat rate, which is compulsory on winning of Rs. ten thousands or more, while tax on regular income is based on the different rates depending upon the different range of income received during a particular assessment year. So, no refund of tax on lottery amount is permissible, irrespective of whether the total income falls short of taxable limit or not.
CAclubindia
