Income Tax including Tax Planning & Management 2022-23
Income Tax including Tax Planning & Management 2022-23
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
The basic tax rate throughout India for lottery winnings is 30 percent The rate is specific for the taxation of lottery winnings The tax rate 27 March 2023 Yes, the money can be transferred through normal banking channel and individual can pay income tax relief for any tax deducted
old man warner in the lottery So if a person is a resident of India, the amount of lottery, winnings shall be taxed under Income From Other Sources in India even if it Income tax laws vary from one country to another The Indian government levies two kinds of taxes on lottery winnings: Gross Tax and Net Tax
