Dear Madam/Sir,
I had brought a New Sony television in Nov 2010, was supplied with a lucky draw coupon. Was informed in Feb 2011 that i have won a playstaion worth Rs19000.
I claimed the prize in March 2011 and now they have added TDS on winning from lottery -in form 26AS under sec 194B for Rs 6293.00
My first question is Can i treat this like a normal TDS and claim TDS benefit or how can I get benefited from this.
Regards
Amit Agarwal
TDS from winning is not eligible for credit
| Originally posted by : U S Sharma | ||
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TDS from winning is not eligible for credit |
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Guys please if anyone can help me to know what entry should i post.
To ______________ 14683
By P & L a/c 8390
By TDS 6293
If this TDS amount is paid by the payer then it will be treated as your income and shall be taxed.
19000 + 6293 = 25293.
tax 30% on 25293 = xx
Less : tax credit 6293
tax payable xxxx
https://taxbykk.blogspot.com/
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