Tax on Lottery Winnings in India Section 194B of IT Act

Income Tax on winning from LotteryCrossword Puzzle etc income from winning of lottery is taxable under Such winnings are chargeable to tax at a flat rate of 30% under section 115BB Conditions: a No expenditure or allowance can be allowed from such income b income tax on lottery winnings in india Whether or not seniors pay taxes on their winnings is determined by their taxable income When the amount of winnings is below the standard

income from lottery These winnings are taxed under section 115BBJ of the Income Tax Act, 1961 According to Section 115BBJ, income in the nature of winnings