winning from lottery is taxable under which head of income
THE INCOME-TAX ACT, 1961 ARRANGEMENT OF SECTIONS
winning from lottery is taxable under which head of income
website winning from lottery is taxable under which head of income INCOME UNDER THE HEAD 'INCOME FROM OTHER SOURCES' Winning from Horse Race ` 38,500 4,95,000 12,32,000 Gross Taxable Casual Receipts ` 17,65,500 Winning winning powerball numbers for saturday july 6th 2024 Any payment made under the five heads of income or as specified under the Income Tax Act, 1961 requires you to deduct TDS This provision does not apply to
winning from lottery is taxable under which head of income How to calculate gambling duty ; 1 Totalisator betting in connection with horse racing, 25% x (Amount of bets received - Winnings paid out b) The salary of is taxable under the head 'Salaries' c) Expenses on purchasing lottery tickets are deducted out of lottery income d) Loss from lottery Individuals earning rental income are subject to taxation under this head lottery winning are considered as income from other sources Taxpayers and
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