SECTION 194B

hello

sec -194B is used fordeducting TDS on income from wilnning lotteries including Card Games

it menas that the person has won the amont exceding Rs.5000/- then the Tax must be deducted on the amount exceding Rs5000/- because Rs5000/- is exempt u/s 10(3)

for example

if i buys Ticket of lotteries of rs 1000 & i won rs 80000

then   total price money   80000/-

less: Cost of purchase  Not Allowed

Less other Deductions

  <a> Deduction U/s 10(3)   5000/-

remaining 75000/- are taxable as per flat rate 30% + 10%surcharge(if applicabe)  + (2+1)% Cess on TAX & Surcharge

thanks

 Dear Nitin Exemption u/s 10(3) shall not be allowed from A.Y. 2003-04.

You can Find all the Information on Section 194B - TDS deduction on Winning from Lotteries, crossword Puzzles or Any Game of this Sort in the Below Links

Link: https://www.exploreincometax.com/Income-tax-Ready-Reckoners/all-about-tax-deduction-on-payment-to-lotteries-crosswordpuzzle-section-194B

You can Also Check The Section 194B On Link https://www.exploreincometax.com/Indian-Income-tax-Act-1961/Section-194B