Details on Taxes For Lottery Winnings In India

Details on Taxes For Lottery Winnings In India income tax on lottery winnings in india This occurs when special income with Tax Deducted at Source , like winnings from lotteries under Section 115BB, makes these forms income tax on lottery winnings As for NRIs, the tax rate starts from % depending upon the nature of winnings While for commission on sale of lottery tickets, one has to

income tax on lottery winnings According to the Income Tax Act, 1961, any income by way of winnings from any lottery, crossword puzzle, card game, or other game of any sort is taxable under

income from lottery The overall tax rate on earnings now becomes % If the total amount won exceeds Rs 10 lakhs, a further 10% surcharge is also applicable To Winnings from lotteries or crossword puzzles are subject to Tax Deduction at Source under sections 194B and 194G of the Income Tax Act