Ad Free CAclubindia and Daily Updates on your Mobile. Subscribe Now!

Tds u/s 194bb can we claim refund?

CA Saagar K (student) (250 Points)

18 December 2013

We are enjoying tax exemption. we always claim refund of TDS deducted.

One of our client/customer deducted TDS and filed it in TDS return under section 194BB. We know this by 26AS.

Now plz tell me can we claim refund of this TDS??

Reply
Follow
Share

9 Replies

Kapil Rao (CA Final MCOM (Accountancy)) (804 Points)
Replied 18 December 2013

No. Income from Winning of Horse races and Lottery Ticketting is not liable for refund

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

Ajay (CA Job) (512 Points)
Replied 18 December 2013

Why don't you ask your client to revise his e-TDS return well before you file your ITR and the you can make proper claim?

1 Like

CA Saagar K (student) (250 Points)
Replied 18 December 2013

Thnx Kapil Thnx Ajay... will do the same thing..........

veerendra (Student) (21 Points)
Replied 18 December 2013

100% claim tds amount below tax limited income

ca (student) (39 Points)
Replied 18 December 2013

Please tell in detail

Upgrade to CAclubindia Pro. Subscribe Now!

ca (student) (39 Points)
Replied 18 December 2013

Please tell in detail. I am a student of ipcc and wanted to know more about it.

suraj (CA) (40 Points)
Replied 18 December 2013

Yes u can claim refund if return is filled and it is shown in 26AS.

Ajay (CA Job) (512 Points)
Replied 18 December 2013

Dear Suraj Sir

Would that be the right procedure in this case? I feel when you claim TDS, the corresponding income would have to offerred in the same return. In this case, the TDS was deposted against wrong section. That is, here, if they claim the TDS as per Form 26AS, then they have to offer the corresponding income as Income from Race Horses? Then, don't you think it is better to get the e-TDS return rectified. Pls elaborate.

Regards

Ajay