14 June 2010
Sec 194B provides that person has to make TDS on the lottery winning if winning amount exceeds Rs.5000(on payment and not on credit).Now my question is Mr X. has bought 3 lotteries from Y ltd. MR X won all the three lotteries respectively 2000,2000,2000 each.The payment of each of them are made on the same day then whether TDS be deducted on 6000 or not?and why?
15 June 2010
In your case, time of payment need to be check whether all the 6000 won by same time and paid such as case TDS required to deduct, if the different times no need to deduct TDS