Tds - section 194b - Income Tax Forum - Chartered Accountants ...

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Hi,

I need help on the following matters:

1. I need a PDF document of Income Tax Act (As amended by the finance act 2012)

2. I need to understand the TDS implications under section 194B, which is for winnigs from Lotteries, crossword puzzles, card games, etc.

I want to know if the TDS is calculated at the time of each payment which exceeds Rs.10000 or a cumulative total of Rs.10000 in a particular financial year.

Scenarios

Case 1 - A person wins Rs.12000 from poker. The TDS would be calculated on what amount ?

Case 2 - A persons wins Rs.8000 from poker and withdraws. Later he wins Rs.7000 more and withdraws it in the same financial year. On what amount the TDS would be calculated?

And what would happen if he wins more even after that, in the same financial year?

Case 3 - A person playing on an online website, deposits Rs.5000 and later on withdraws Rs.14000. Will TDS be calculated in such a case? If yes, on what amount?

Case 4 - What is a person's winnings amount is exactly 10,000? Is TDS applicable on it?

Please advice on the above matter.

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Source: http://www.caclubindia.com/forum/tds-section-194b-224765.asp

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