Tax deducted from cash prize won in competition

Hi all,

 I had won cash prize in a competition on Feb 20, 2013. The prize money was Rs. 40,000 and a tax of 30% (Rs. 6000) was applied on it . So we got only 70% of 40,000. It was said to us we can get back this amount as we are students .

Can someone guide on how to go about this ? I haven't done any tax claims so far .

Also when would be the last date for the same ?

Thank you..

Regards

Umer

 

 

Replies (7)

you can contact any tax professional and he will help you file your income tax return and get you refund of 6000

yes umer, as u said u are a student, u must have no other source of income, only 40000/- will be exempt . Therefore u can   get a refund of rs 6000/-. For that u will have to file your income tax return.

When would be the last day to do file income tax return ?

You have to file IT return claiming TDS refund on or before 31 st March, 2015.

Just confirming it , the amount was recieved on Feb 20 , 2013.  So the time available is till Mar 31, 2015 , right ?

@ umer.... yes thats correct.

I agree with the above replies

1. Due date 31st March 2015 and

2. TDS Refund Amount Rs. 6000/-

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