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Lottery Winning

TDS 361 views 2 replies
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Asst.Manager
95 Points Joined October 2009

What is the total TDS if the lottery winning is 2 crores in india?.   If that is purchased by a person and of course  it is shared by 5 people  will the TDS will also change?

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On 23 November 2019 at 11:48 Report
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12244 Points Joined May 2017
Unless there's express proof that lottery winning amount belongs to 5 person there won't be change in TDS amount.
as of now, TDS rate for lottery winning is 30% plus 4% cess on tax
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On 23 November 2019 at 13:40
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17264 Points Joined December 2018
TDS is deducted @ 31.2% on lottery winning under 194B . That means TDS will be on 2 lakhs.

Whether Lottery winning multiple names claim is allowed or not , pl confirm with lottery ticket distributor and follow that process if it is allowed.

Mostly it may not be allowed.
But no harm in trying.
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On 23 November 2019 at 17:24

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