TDS 194G on Commissions on Lottery Tickets

TDS 194G on Commissions on Lottery Tickets lottery tax deduction You can try to win big at the casino but make sure you understand tax laws before you do Gambling winnings are taxable income but losses are deductible lottery outlet store in tenerife A 30 per cent tax deducted at source will be levied on those who receive prizes above Rs 10,000 multiple times a year In the initial

lottery outlet store in tenerife The prize money associated with online lotteries is immense However, the prize money won from lotteries are subject to tax deductions at

lottery store Where the total winnings from each lottery, crossword puzzle, card game, etc do not exceed 10,000, no tax is to be deducted TDS rate is 30 As per the Income Tax rules, money won in a lottery or any competition is taxable You will have to pay a flat 30 per cent of the winning amount