Income From Other Sources: Taxability, Exemptions and Deductions

Income From Other Sources: Taxability, Exemptions and Deductions winning from lottery is taxable under which head of income Form W-2 shows the income you earned through services performed as an employee For example, while the IRS considers lottery winnings to be taxable income winning from lottery is taxable under which head of income It is not counted as casual income when winning is the result of ability and effort Lottery held as stock in trade shall be taxed under

winning from lottery is taxable under which head of income Income from lottery is taxed under the head income from other sources Flat 30% tax on 1cr equals 30 lacs then there's surchage at the rate 5%

winning md lottery numbers There are certain casual incomes such as winning from lotteries, horse races, and other games of gambling or betting in nature which are taxed at a certain flat It is not counted as casual income when winning is the result of ability and effort Lottery held as stock in trade shall be taxed under