TDS on prize u/s 194BB

ruchika more (practise) (48 Points)

17 October 2007  

 

 1. A person whose income is Rs 10000 p.a has won a car in lottery. But he is unable to pay TDS what should the co. do.

   2. Due to heavy competition a media co has launched free scheme to its customer but is confused relating to TDS deduction as because prize winners are of low income & could not afford to pay tax. What should the co do so as to compete in the market as it has no option except to launch the scheme.