TDS on prize money won in research conference?

Income Tax Income from Other Sources
1

Hi,

My brother recently won 40,000 INR as prize money in a research conference where he present his paper. The organization transferred the prize money after 10% TDS.

Given that he does not have any other income beside this 40,000 INR, how & what form he need to provide to organization so that they dont deduct the TDS?

Or the only way to get TDS back is file the ITR next year and get the refund from IT department?

2

Hey @villager512,

As the TDS has already been deducted and the money is transferred, you can only claim a refund of the same by filing the ITR once the AY 24-25 starts.

Hope this helps!

2 Likes
3

Hi @Surbhi_Pal

What ITR form my brother should fill to claim the tds? He is in college with no income of any kind.

Thanks

4

Hey @villager512,

ITR-1 can be filed, and this prize money can be shown as ‘income from other source’.