TDS on Winning from Lottery

tds on lottery income
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TDS is deducted from the payments made by the individuals as per Income Tax Act Various types & rates of TDS deduction are present

Any money or prize you win from a game show, reality show or lottery, is subject to tax deduction at source The Income Tax Act, 1961 specifies in Section TDS , an integral component of income tax, involves mandatory deductions by individuals or entities on specified

gratis casino slot spiele Self-Assessment Tax: After filling out your ITR form with the TDS and advance tax details , the system computes your income and checks whether tax is As per section 194B tax need to be deducted at flat 30% plus cess of 4% at % Extract of Section 194B – “Winnings from lottery or