TDS

TDS 1171 views 2 replies

An individual assessee won a piece of furniture in a lucky draw.(The lucky draw coupon was given to him for purchase of an electronic item in his son's name who is studying).He is now being asked to pay Rs.5200/- towards taxes by the Company, the cost of the furniture being around Rs.17000/-. The Co. has stated that it will be issuing a form 16 to this effect.


Is it possible for the assessee to claim this amount of TDS while filing his return ?

Replies (2)
The assessee can claim the TDS though it is in the name of his son who is studying. Logically when Income is taken into account the corresponding TDS should also be taken. Isn't it?
The Assesse can very well claim the amount of TDS paid while filing return of income.


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