Income tax

winning from lottery is taxable under which head of income
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lottery winnings, including cash prizes from the Pennsylvania Lottery Noncash prizes from the PA Lottery are not taxed A loss in one class of income may

Deductions from winnings from Horse Races under Section 194-BB of Income Tax Act, 1961 Deductions from payments to contractions and sub-contractors under It's also important to note that just like income tax, prize money must be claimed on your tax return, and winnings must be noted on IRS Form 1099-MISC the year

poker turnerning Any income that is not covered in the other remaining four heads of income is taxed under income from other sources It is referred to as residuary head of Income from lottery is taxed under the head income from other sources Flat 30% tax on 1cr equals 30 lacs then there's surchage at the rate 5%