29 October 2014
suppose i won a AUDI car in a lottery worth rs 8000000/-
i am a poor guy.
i can't pay tds on that winning of car.
now the ques is this who will pay tds @30% on rs.8000000/-
as in kbc they deduct the tds from winning price of the winner
what will be the treatment in that case of car winning???
30 October 2014
The winner of car himself is liable for tax in form of TDS. As TDS is on winning of prize irrespective of your financial status. Ask for cash prize instead of car so that TDS will be deducted from cash payment
CAclubindia
