Income Tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 January 2011
Hi Dear Frnds,
pls tell me how Wininigs from lucky Draw will be treated as per I.Tax Act,1961.
Should i treat as a Gift or as a winnings...
pls tell me how Wininigs from lucky Draw will be treated as per I.Tax Act,1961.
Should i treat as a Gift or as a winnings...
07 January 2011
It will be treated as Winning from Lotteries & Puzzles and TDS will be deducted on such amount u/s 194B @ 30.9% if threshold limit of Rs 10000/- p.a. is crossed.
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