quesCan I claim back TDS paid on a competition prize if i am a student?

I won the 1st prize in a competition and paid TDS for claiming the prize – Rs.7500. I am a student and want to know if I can claim back the TDS amount?

  • ans

    If Prize is given to a person for winning a game show on basis of competencea nd merit then, TDS will be applicable and will have to be deducted u/s 194B by the payer of prize.

    If Prize is given to a person for excelling in some competition or exam other than game show in electronic mode or TV Show, based on his inherent competence and merit then, TDS will not be
    applicable on the same.

    So for guiding you in the right direction we would like to know the nature of the competition from which this prize money you won.

    In addition to that, TDS is applicable on amount of prize more than Rs. 10,000/-


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