87A REBATE

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Asst Prof of Commerce
54 Points Posted on 04 April 2020
Is this 87A rebate applicable for assessee having income from lottery winnings only
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On 04 April 2020 at 18:47 Report
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This discussion explores the applicability of the Section 87A rebate for individuals whose sole income is from lottery winnings. While the rebate is generally available against total income, specific exclusions like long-term capital gains apply. Participants debated whether lottery income qualifies, with some suggesting it does as 'total income' includes all sources, though Chapter VI-A deductions might not be permissible. The consensus leans towards the rebate being claimable, potentially leading to a tax refund after adjusting for TDS.

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128157 Points Posted on 04 April 2020
No...
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On 04 April 2020 at 19:11
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Chartered Accountant
12739 Points Posted on 04 April 2020

Rebate u/s 87A available against all types of income except LTCG u/s 112A 

As per my view , rebate u/s 87A is allowed however deduction u/c VI A is not allowed . 

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On 04 April 2020 at 20:55
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128157 Points Posted on 04 April 2020
No more any other availability Mr Naveen Chand...
Flat rate tax (as TDS if exceeds 10k) and its must be pay to income tax...
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On 04 April 2020 at 22:00
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Member
75 Points Posted on 04 April 2020
Yes, you can claim rebate against income from lottery winnings as the Section 87A of the Income tax Act,1961 uses the word "total income" which includes all types of income and from all sources. By the way chapter VIa deductions are not allowed in this case from "lottery income" for calculating the total income as per threshold limit.
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On 04 April 2020 at 22:59
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128157 Points Posted on 04 April 2020
No way for any deduction and rebate also not available...
Flat rate tax (as TDS if exceeds 10k) and its must be pay to income tax...
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On 04 April 2020 at 23:03
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Member
75 Points Posted on 04 April 2020
Download itr2 and try to fill it. You will get clarity whether we can claim or not against lottery income
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On 04 April 2020 at 23:05
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128157 Points Posted on 04 April 2020
Ohh...
I don't know it will be view based on ITR - 2.

But,

Tax is payable flat rate for winning lottery without any availability...
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On 04 April 2020 at 23:10
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42 Points Posted on 05 April 2020
Rebate us 87A is available against all income except long term capital gains. Hence the law doesn't prohibited that rebate us 87A is not allowed against lottery income. first Assessee have to calculate the total tax Liabilities after considering the rebate us 87A and then he have to adjust the TDS on lottery income . Normally it is seen that person who claim the rebate us 87A and simultaneously he have lottery income, this case become the refund if tax
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On 05 April 2020 at 08:46
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"Do the Right Thing...!!!"
128157 Points Posted on 05 April 2020
Well...

But, Give Your experience here...

What about TDS refund if deducted Winning Lottery (& related gaming)...?!
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On 05 April 2020 at 09:03
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Articled assistant
663 Points Posted on 28 April 2020
Save your income taxes by planning like this
If your income is just above 5 lakhs ..

visit my blog -https://sanjithkotni.blogspot.com/2020/04/change-in-provisions-of-rebate-sec-87a.H T M L?m=1
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On 28 April 2020 at 17:58

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