Like it on Facebook, Tweet it or share this topic on other bookmarking websites.
Visit my blogs:
http://abidareacode.blogspot.com
chinmoymukherjee wrote:
[quote]@Rajani
TDS is basically collection of tax on an advance basis and before the return of income is filed with tax authorities,you need to calculate how much tax you need to pay on your total income.And after adjustment of TDS if the balance is postive you pay the difference as further tax amount and if it is negative the Income Tax authorities pay you back the amount as refund![/quote]
Thanks for the explanation chinmoy..But i was asking that if the winner is not having any other source of income except Lottery amount(as asked if he doesnt have job)what is the process..I think based on salarly earned income tax is subjected.does this prize amount comes under it?
Hope my point is clear..
[quote]@Rajani
TDS is basically collection of tax on an advance basis and before the return of income is filed with tax authorities,you need to calculate how much tax you need to pay on your total income.And after adjustment of TDS if the balance is postive you pay the difference as further tax amount and if it is negative the Income Tax authorities pay you back the amount as refund![/quote]
Thanks for the explanation chinmoy..But i was asking that if the winner is not having any other source of income except Lottery amount(as asked if he doesnt have job)what is the process..I think based on salarly earned income tax is subjected.does this prize amount comes under it?
Hope my point is clear..
Visit my blogs:
http://abidareacode.blogspot.com
Page 3 of 4