tds on casual

 IF I AM NOT INTERPRETING WRONG YOU ARE TALKING ABOUT SECTION 194B & 194BB.

ON CASUAL INCOME SPECIFIED U/S 194B & BB, TDS IS TO DEDUCTED @ 30% AND U/S 115BB IT IS TAXABLE @ 30% ONLY NOT AS PER SLAB RATE OF TAXATION.

AND IN ANY OTHER CASE YOU ARE TALKING ABOUT, IT IS 100% COMPULSORY TO DEDUCT TAX AS PER RELEVANT SECTION UNLESS A CERTIFICATE FOR LOWER / NO DEDUCTION OF TAX U/S 197 HAS NOT BEEN OBTAINED.

REGARDS,

RITESH KOTHARI

dear ritesh ,sorry , i think i have not presented the problem clearly.

i m asking that if the tds is deducted on casual income, then will it be refunded if the person income is rs.1 lac only?

First of all, casual income(i.e. winnings from lotteries, horse races, etc.) are taxable at the rate of 30% [Sec.115BB] whether ur total income (inclusive or exclusive of this amount) exceeds 1.5lacs or not. Such income is taxable in the hands of the reciever.

if ur tax has been deducted on such income, since the tax is otherwise also payable, i think the refund can't be availed unless u have any investments under Chapter -VI-A in which case u can claim refund by filing the retrn...........

dear,

if the income (rs. 1 lac)is inclusive of casual income, then still refund can be claimed?