Income from. Winning lottery

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rinku prasad

Accountant

45 Points Joined March 2013

An individual win first prize amounting rs 51 lakes and out of that he got the amount after deducting tds @ 30% rs 35.7 lakes. I want to know how can he claim refund claim. Please give me the detail tax treatment

Replies (1)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

208788 Points Joined July 2016

The tax rate over the prize winning is same as TDS deducted. So, you have to file return and offer the prize for assessment of tax, but balance will be nil for refund. (subject to any other incomes & TDS)