12 March 2014
sir if i won 25 lakh in a reality show let say indian idol and except this i dont have any income in that financial year . 1) what is the tax implication in this case? 2) which itr i should file? 3) can i claim refund for higest rate of tax?
12 March 2014
why i cant claim refund ? Mr. bhardwaj upto income of 10 lakh i shall be liable to tax at 10%( upto 5 lakh) and 20%( above 5 lakh to 10 lakh)and as you know t.d.s shall be deducted @30% u/s 194b on whole amount of 25 lakh
13 March 2014
In case of winning from lotteries, crossword puzzles, games, etc. income is taxable at a flat rate of 30%. Slab rate is NOT applicable to such income.
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