Tax on lucy draw
This query is : Resolved
HEMANT JAIN
(Querist)
08 August 2017
If someone won a car in lucy draw organised by his supplier than how it will be taxed ?
CA Rashmi Gandhi
(Expert)
08 August 2017
It is charged@30%.
Same is shown as income from other sources.
Satish Narayan ACMA
(Expert)
09 August 2017
Agree with CA Rashmi Gandhi
09 August 2017
Please read the writing in https://www.filereturn.com/tds-on-lottery-winnings-section-194b with particular reference to last sub heading.
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