Dream 11 My 11 Circle या किसी भी Online Game में कटे हुए Tax/TDS का Refund लेवे | Tds Refund on Game
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Question & Answers :-
Q. 1. What is section 115BB of income tax act, 1961 ?
Answer - Section 115BB imposes a flat income tax rate of 30% plus cess and surcharge (if any) on income from winnings from offline gambling or betting games etc.
Q. 2. Is basic exemption available on 115BB?
Answer - Section 115BB of the Income Tax Act deals with tax rates charged on casual income, that is, a flat rate of 30%. Deductions or exemptions are not allowed on these incomes. You can declare your casual income while filing ITR-1 under the head of “Income from Other Sources”.
Q. 3. How to Claim TDS refund from dream 11 application ?
Answers - Don't worry; you can claim your TDS refund when filing your Income Tax Returns (ITR) for that financial year. Remember to download your quarterly TDS certificates from the Dream11 app once they are published by following these steps: Go to the profile icon. Select "My balance."
Q. 4. Is TDS deducted on dream 11 is refundable ?
Answer - So even After ITR Filing you can't claim TDS Refund from Dream11. Hence, no person can claim a refund under the new section whether they pay tax or not. The tax deducted at source will get associated with the PAN of taxpayer which the taxpayer can verify by visiting the Income tax website.
Q. 5. How can I get my TDS refund dream 11 back?
Answer - You just need to visit the income tax portal and log in to download the relevant form for an income tax refund. Enter all the particulars and submit the form. If the employer has deducted tax when you are not eligible for it, you can claim the amount by filing income tax returns (ITR).
Q. 6. Is 100% TDS refundable from online gaming ?
Answer - For example, if your income is not taxable, still your TDS was deducted, and you might be eligible for a 100% tax refund. On the contrary, if your tax liability is less than the amount of TDS deducted, then you will get only the excess TDS deducted.
Q. 7. How much TDS will be refunded?
Answer - Based on one's slab, a taxpayer is required to file Income Tax Returns. For instance, taxpayers who come under the tax bracket of 5% are entitled to claim TDS refund against the additional amount paid as TDS on, say interest on fixed deposits or investments.
Q. 8. What is effective tax rate on Winnings from online gambling ?
Answer - To sum it up, the actual winning amount or value is subject to a 30% TDS rate under Section 194B. The relevant tax that is withheld at source once surcharge and cess are taken into account is 31.2%.
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