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TDS CREDIT RECEIPT

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16 Points Joined August 2020
Sir/Madam,

Can I get credit of TDS deducted on price money given by a government agency in anyway. please reply.

thanks in advance
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On 20 May 2021 at 15:55 Report
Replies (5)
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Learner
2398 Points Joined May 2019
You have to pay 30% on prize money from govt agency irrespective of basic exemption limit hence you can't get refund of TDS deducted.

May I know what kind of prize money I mean why they have given you??
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On 20 May 2021 at 17:00
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Chartered Accountant
24588 Points Joined November 2019
30% tax will be deducted on prize money. While filing ITR you can get credit of TDS as per 26AS
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On 20 May 2021 at 17:47
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Practice
1361 Points Joined June 2019
Yes you can get the credit of tds if shown in 26AS but refund depends upon your Total Income.
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On 20 May 2021 at 18:27
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Learner
2398 Points Joined May 2019
Yeah refund is subject to your total income a and rebate u/s 87A.
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On 20 May 2021 at 18:29
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tax consultant
3306 Points Joined October 2018
It would be clear only when you sit and workout total income and tax calculations.
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On 20 May 2021 at 21:21

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