Do you need to pay tax on lottery winnings?
Do you need to pay tax on lottery winnings?
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The Income Tax Act was amended to add Section 194B This section taxes income from: Lotteries and lucky draws; Races including Horse races; Card games, gambling
As far as Income tax is concerned, your friend has to pay 30% tax on the value of the car subject to India UAE DTAA The tax implications in case of winnings in India loan ß 15,000; % Secured debentures of a cotton mill ß 10,000 lottery Winning from wager Income from letting on hire the
as au poker Where lottery income arises outside India Cart Winnings from lotteries arises outside India to resident shall be chargeable to tax as income from other Thus, a very small portion of the face value of the lottery tickets is liable for sales tax Promoter means the Government of India or a Government of a