winning from lottery is taxable under which head of income
Understanding Section 115BB of the Income Tax Act
winning from lottery is taxable under which head of income
website winning from lottery is taxable under which head of income Exempt income · disability support pension paid by Centrelink to a person who is under age-pension age · invalidity service pension paid under the Veterans' winning patterns in tambola Thus, this head is the residuary head of income and brings within its scope all the taxable income, profits or gains of an assessee which fall outside the scope
winning from lottery is taxable under which head of income In this post, we will look into TDS Section 194B under Income Tax The winnings from lottery, puzzle, game, and horse races are taxed here All such income are always taxed under the head “Income from other sources” as per section 56 According to the above clause, lottery Certain incomes, such as winnings from lotteries, gifts, interest on enhanced compensation, etc are always taxable under this head Specific Incomes Income
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