Hello Guys.......
Please let me know whether TDS is deducatable or not :-
2 Prize won by Mr. X each cost Rs. 6000
1 Prize won by Mr. Y cost Rs. 11000
If you have supporting, please provide the same too...........
3 Replies
rachit jain
(chartered accountant )
(635 Points)
Replied 13 June 2011
tds u/s 194 B is applicable if prize amount exceed 10000.
Arvind Sharma
(ACA)
(1432 Points)
Replied 14 June 2011
| Originally posted by : rachit jain | ||
 |
tds u/s 194 B is applicable if prize amount exceed 10000. |
 |
I know it dear, ans me about the above problem...
The prize are given by Social Club...
rachit jain
(chartered accountant )
(635 Points)
Replied 14 June 2011
well u din't mention social club dear. come to the issue now, as per sec 194 B " any person paying the sum by way of winning from lottery, crossword puzzle, card game or game of any sort is responsible to deduct tds.
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