Prize money received by sports person
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 December 2011
hello,
Whether Prize Money, etc received by Sports person taxable & if yes under what head?
And whether they can claim any expenses on that receipt (ex: prize money from sports club)
Thanking You
Whether Prize Money, etc received by Sports person taxable & if yes under what head?
And whether they can claim any expenses on that receipt (ex: prize money from sports club)
Thanking You
Aijaz Shaikh
(Expert)
18 December 2011
It is taxable as income from other sources, no expenses can be claimed.
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