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Tds on prize won in a online contest
Hi,
I won a Creative Video Making contest on a website. Video was about product bought from them.
Please share if TDS @ 30 % is applicable under 194B or other sections.
if Yes, can I claim refund if my Income is in a lower slab of say 10% or 20%.
Replies (1)
in case of winnings irrespective on what slab you are under you will have to pay up 30% of the tax. See if you can ask them to consider your contest as a professional charge. Then you can go according to your slab.
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