Income Tax on winnings from Lottery, Game Shows, Puzzle

winning from lottery is taxable under which head of income
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All such income are always taxed under the head “Income from other sources” as per section 56 According to the above clause, lottery

Any payment made under the five heads of income or as specified under the Income Tax Act, 1961 requires you to deduct TDS This provision does not apply to The liability for deduction of income-tax at source under Section 194B of the Income-tax Act, 1961 , rests with the petitioner and the

tn lottery powerball Winnings from such sources fall under the head 'Income from other sources' For example, person A has won prize money at a quiz show Rs 10 In conclusion, it is important to remember that the majority of sizable prize money and gifts are subject to taxation under the Income Tax Act,