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Tds claim

sanatan (student) (31 Points)

17 July 2018

Are there Cliam of TDS on lottery possible if my Total income is less then exemption limit. As this is a Special Rate of Tax can refund be possible. ITR-2 correct for the same or not in case only lottery income of Rs. 80000 are there

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5 Replies

saurabh sawlani (Self employed ) (2193 Points)
Replied 17 July 2018

U MUST BE SUBMIT FORM 15G TO YOUR DEDUCTOR IF UR TOTAL INCOME NOT EXCEEDS 250000 HENCE TDS NOT DEDUCTED FROM YOR INCOME

RAJA P M ("Do the Right Thing...!!!") (128111 Points)
Replied 17 July 2018

No... No way for claim refund for deducted based on lottery income...

saurabh sawlani (Self employed ) (2193 Points)
Replied 17 July 2018

U MUST BE SUBMIT FORM 15G TO YOUR DEDUCTOR IF UR TOTAL INCOME NOT EXCEEDS 250000 HENCE TDS NOT DEDUCTED FROM YOR INCOME

RAJA P M ("Do the Right Thing...!!!") (128111 Points)
Replied 17 July 2018

No... No way for claim refund for deducted based on lottery income...

1 Like

N Das (177 Points)
Replied 18 July 2018

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.