TDS on KBC, puzzle, horse rase

TDS 2860 views 21 replies

well pankaj, not agreed with your comment  as in your example winning amount of Rs. 25 l will be completely taxable @ 30% and refund cannot be claimed on such Rs. 80000 if the income from other sources is less than the taxable limit 

 

if you can give any explanation with the help of circular or any such material then that  will be useful in your context 

thanks

Replies (21)

well pankaj, not agreed with your comment  as in your example winning amount of Rs. 25 l will be completely taxable @ 30% and refund cannot be claimed on such Rs. 80000 if the income from other sources is less than the taxable limit 

 

if you can give any explanation with the help of circular or any such material then that  will be useful in your context 

thanks

Any income from winning of Lottery ,race or gameshow is taxed @ flat 30% without any exemption whatsoever hence there is no question of refund 

Its 30% on winning amount irrespective of slab rate and if u dont have taxable income then u can claim refund by filing return within prescribed time .

Sir u check Income tax book of Mr. Singhania or G. Ahuja , you will get clear as there is many type of conceptions which will make you more confused.

it's deducted in the name of TDS....but simultaneously it's being taxed....so no refund in that case....

Dear Alok, 

I think even basic exemption limit is also not allowed...

Correct me if  I am wrong

Refund of tds is not allowed in case of winning lotteries,puzzles, horse race and other games.


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