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Casual income

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 September 2013 Amt won from lottery 7500 amount spent to purchase lottery ticket 17500 amt chargeble to tax???
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
29 September 2013 No deduction allowable for casual income, it is fully taxable
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
29 September 2013 Agree with Experts,
No deduction in case of Casual Income...
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