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

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Applicability of provision of Section 194G Section 194G of the Income Tax Act, 1961 lays down the provisions for deduction of TDS at the rate of 5% when there

Similar arrangements, some set up before a lottery win and some after, are commonly made to share lottery winnings while trying to avoid gift taxes However,

winning numbers for virginia lottery As per section 194B of the income tax act, all the winnings over and above Rs 10,000 will be subject to a TDS of 30% With cess and surcharge,

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