Won a lottery or prize money in India? Here's what you need to know

Won a lottery or prize money in India? Here's what you need to know rate of tds on lottery winning is Section 194G of the Income Tax Act deals with TDS on income earned from lottery tickets It requires a 5% TDS deduction on such income rated slot TDS Rates Applicable for Resident of India for FY 2024-25 ; Section 194B: Income by way of lottery winnings, card games,

rated slot TDS Incidence According to the rules of Section 194B194BB of the Income Tax Act, TDS must be subtracted from wins before distributing them to

kerala lottery result reviews For example, on Rs 1 lakh prize money in a game show, in all likelihood, the organiser will deduct the flat rate of TDS at 30 per cent ( Section 194G of the Income Tax Act deals with TDS on income earned from lottery tickets It requires a 5% TDS deduction on such income