INCOME FROM OTHER SOURCES
This query is : Resolved
11 June 2008
Dear Friends,
I am Abhishek Sabhaya from Gujarat.
So my question is : Can any payment be taken as deduction against Winnings from Lotteries, games, etc. ?
Please give answer after thinking good.
Best of Luck.....:-);-)
abhi(420)
I am Abhishek Sabhaya from Gujarat.
So my question is : Can any payment be taken as deduction against Winnings from Lotteries, games, etc. ?
Please give answer after thinking good.
Best of Luck.....:-);-)
abhi(420)
15 November 2008
nO, DEDUCTION IS ALLOWABLE AS PER THE IT ACT ON THESE TYPE OF INCOMES.
Only deduction mentioned at https://law.incometaxindia.gov.in/TaxmannDit/DispCitation/ShowCit.aspx?fn=https://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2008ITAct/section57.htm
allowable in income from other sources.
**DM
Only deduction mentioned at https://law.incometaxindia.gov.in/TaxmannDit/DispCitation/ShowCit.aspx?fn=https://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2008ITAct/section57.htm
allowable in income from other sources.
**DM
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Missed uploading GST Invoice
- Query on effect of registration of property
- GST on reimbursement of expenses
- Equity Share Sale and Purchase
- Wrong CMPo8 file
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Additional trade name
- Number of years as per AS amortisation of Goodwill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
