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Section 87 rebate for lottery income

347 views 2 replies

C.A Varsha Premachandran

Practice

85 Points Posted on 07 October 2021

Hai All,

Is rebate admissible on tax of winnings from lottery?

Anyone please share the section explaing it.

Thanks in advance..

Replies (2)

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 07 October 2021

If total income is less than 5 lakhs rupees from all sources of income after deduction then rebate u/s 87A is available upto 12500 rupees

but in case of lottery income total income from all sources is restricted to lottery income after deduction

Kev Men

790 Points Posted on 08 October 2021

The relevant sections are 115BB and 87A. On combined reading of the same, it can be inferred that rebate is admissible on tax of winnings from lottery.

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