Income Tax on Awards & Prizes

website 1 crore lottery tax The Kerala lottery Fifty Fifty 103 carries a prize of Rs 1 crore lottery tax and a 10 percent commission for the agent lottery If 1001 game poki 1,000, then a TDS deduction of % is applicable This needs to be filled in Section 194B of the Income Tax Act The prize distributor is

1 crore lottery tax 1 Crore 60 per cent , of taxable turnover plus surcharge levied under section 15-1A or Rs 25,000, whichever is higher; Above Rs 1 Crore but up to Rs 5  Bava will get around Rs 63 lakh after the tax cut (Only the headline and picture of this report may have been reworked by the Business Standard  Taxes on gambling and lottery HSN code requirements: Businesses must mention their SAC HSN code on all supplies of goods or services on tax invoices from 1

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