Back

Wakar

Turning ideas into B... • 1d

TDS and cess together make up 31.2%, which is why the amount received was ₹6,880. However, as per the rules, tax is only applicable if the winning amount exceeds ₹10,000. In this case, the prize was exactly ₹10,000, so tax shouldn't have been deducted. If the government is going to deduct taxes even on ₹10,000, then it would make more sense to set the prize amount at ₹9,999 to help winners avoid unnecessary tax deductions.

Reply
1

More like this

Recommendations from Medial

Image Description
Image Description

Wakar

Turning ideas into B... • 1d

Seriously? The prize money was supposed to be ₹10,000, but I’ve received only ₹6,880. What’s this? Not even a single mention of any deduction, and now this random amount? If you weren’t going to give the full ₹10,000, then what was the point of writi

See More
17 Replies
5
1

RV Dhameliya

Student • 24d

🧾 TDS, Advance Tax & Refund — Simple Summary TDS (Tax Deducted at Source) is tax cut before you receive your income (like salary, interest, freelance payments). It’s paid to the government by the one who pays you. Advance Tax is tax you must pay i

See More
Reply
2
Image Description

PRATHAM

 • 

Spotify • 1y

Simple basic maths question that all the founders must solve. If I bought a product for 100 with 18% tax ( SP with Tax )so what was the amount before applying tax ( SP) ❓Ez question from class 7 texts 😉👇

1 Reply
5
Image Description
Image Description

CA Dipika Pathak

Partner at D P S A &... • 1y

Continue-Tax and Accounting Compliance within the Online Gaming Sphere!! Value of supply of online gaming including online money gaming Value =Total paid or payable to or deposited with the supplier by way of money or money's worth, including virtu

See More
2 Replies
6
Image Description
Image Description

Shubham Patel

 • 

E-Cell, IIT Bombay • 6m

Mehnat ki kamai par moti rakam maangte hue pakadi gyi 😅( Caught demanding huge amount for hard earned money) Tax -Treatment of popcorn 🍿 The Goods and Services Tax (GST) Council, chaired by the finance minister and including state representative

See More
7 Replies
2
15
Image Description
Image Description

Tarun Suthar

 • 

The Institute of Chartered Accountants of India • 6m

How to save Taxes!!! iykiyk -- Part 1. Taking Debt/Loan as funds is best way eliminate taxes than raising Equity shares. as Debt is charged against profits and interest is deducted before imposing tax rate. Also, Be sure that the ROI is higher tha

See More
11 Replies
8
17
1
Image Description
Image Description

Ronak Patel

Here you go! • 5m

💸25 Basic terms you should know before watching Budget 2025 on Feb 1 Finance Minister Nirmala Sitharaman is preparing to present the Union Budget 2025, marking the second full budget of Prime Minister Narendra Modi’s government in its third term, a

See More
4 Replies
45
53

calculus

Your Bottom Line Our... • 1m

📢 Income Tax Filing Awareness – Don’t Miss the Deadline! ✔️ Filing your Income Tax Return (ITR) is mandatory if your annual income exceeds the exemption limit. ✔️ It helps you avoid penalties, claim refunds, and build a strong financial record. ✔️

See More
Reply
3
Image Description

Ravi S

We builds future • 6d

BlackBuck To Appeal Tax Demand Notice Over TDS Issues Listed logistics startup BlackBuckBlackBuck Datalabs_in-article-icon today said it received a tax demand notice totalling INR 28.55 Lakh from the Income Tax (I-T) Department. In a filing with t

See More
1 Reply
1
11

Download the medial app to read full posts, comements and news.