Section 194B & 194BB - TDS on Lottery, Puzzle, Horserace

website tds on lottery income If you are making specific payments mentioned in the Income Tax Act, you must deduct TDS when making those payments Individuals or HUFs whose tds on winning from lottery Any award or lottery based on participation fee and chance is subject to TDS under section 194B of the Income Tax Act, 1961 However,

tds on lottery income Payer should deduct TDS at 30% if income exceeds INR 10000 us 194B on winnings from lottery, puzzle, card game & 194BB on horse race income   Section 194G deals with TDS on commission on sale of lottery tickets In this article, we will discuss section 194G of the Income Tax act   Some of such incomes subjected to TDS are salary, interest, dividend, interest on securities, winnings from lottery, horse races, commission and

Share

Share

Link

Turn off sharing Copy link

See all details