Tax on gold winning in Australia

Save Share

This query is : Resolved

Quick Summary

If you're an Indian resident and win gold in an Australian lottery, your winnings are taxable in India, even if Australia doesn't tax them. You can claim relief from double taxation if tax was deducted elsewhere. You have the option to keep the gold in Australia and only bring back the amount you need, but you'll still need to declare and pay tax on the winnings in India.

Neeraj

Neeraj (Querist)
Follow

13 February 2020 What is tax liability of Indian resident, if he won home gold in Australia lottery. Is he can maintain this gold in Australia and bring only the amount which he needs in India. How much tax he needs to pay, if he brings only partial gold to India.
Winning gold in lottery in Australia is tax free.

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

14 February 2020 for resident individual, his income across the world is taxed in India. If the tax is deducted from this lottery in Australia, you can claim double taxation benefit

Neeraj

Neeraj (Querist)
Follow

14 February 2020 Since Australia is not charging any tax on lottery. So, is anyone needs to pay tax in India before claiming this price or he can maintain this as his foreign income without paying any Tax in India

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now