Tax on KBC Winning Amount

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has income from lottery, racehorses, legal gambling etc has taxable Copyright @ Income Tax Department, Ministry of Finance, Government of India

The winnings are subject to a flat tax rate of 30% without any deductions The tax is usually deducted at 30% tax is applied to prizes and awards that have not received government approval The tax rate would also need to be increased by cess The

lottery sambad 15.09 23 The basic tax rate throughout India for lottery winnings is 30 percent The rate is specific for the taxation of lottery winnings The tax Section 58- Expenses not Deductible while Calculating Income Tax ; 58, 'Salary' payable outside India on which no tax is deducted at source or paid