is lottery money tax free
Lottery Winnings
No, Under Section 58, no tax exemption or deduction can be claimed on winning cash or assets as a prize from a game show, lottery, etc You
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If the prize money is less than Rs 10,000, then the amount is exempted from tax However, if it is more than Rs 1,000, then a TDS deduction of
is lottery considered gambling But the good news is that if you are lucky enough to win something, it is completely tax free It's one of the few times Revenue won't demand a
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