Lottery wining
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 June 2012
As i know it has a flat rate of 30% as per i.t but i have an eg oof a person who won a lottery of one crore from state of kerala but he got in hand only 63 lakh. i am confused about the tax working the way the have worked out .So please help me by showing how the working has been done......to get 63 lakh in hand.
Thank You.
Thank You.
14 June 2012
Some amount may have been deducted as charges payable to Government from such winnings.
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