myITreturn: Income Tax Return Filing

tax on lottery winnings in india
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Such gains are subject to taxation under the Income from Other Sources heading Taxes that are due must be paid, or else fines and legal

A provision for 1% TDS deduction on payments made on transfer of virtual digital assets , such as cryptocurrencies & non-fungible tokens ( When we talk about a tax on lottery winnings, Federal tax withholding of 24 percent is automatic on jackpot payouts exceeding $5,000 less the

slot urban arrow As per section 115BB of the Income-tax Act,1961, the entire income from winning lotteries, games show, etc will attract tax at the rate of 30%  The Individual should disclose such income , winnings from online gameslotteries etc under Schedule OS of the ITR form under part 2