casual income

Casual income is a non recurring income that is not likely to occur again. It is an income which is earned by chance. Such income is neither anticipated nor provided for in any agreement.

 Income received from gambling , betting , lotteries , card games ,Puzzle games ..etc is called casual income .

The income will be taxable at the flat rate of 30.9% If the Prize money exceeds Rs 10, 000, then the winner will receive the prize money after the deduction of TDS @ 30.9%.

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