Save Rs 499. Go Ad-Free with CAclubindia Pro for 2 Full Years. Subscribe Now!

banner_ad

Section 87 rebate for lottery income

Others 364 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.

CCI Pro

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register

Recent Topic

More recent discussions | Post

Related Topics

Latest Job Openings

View all

22 May 2026

Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details

21 May 2026

Associate

PWC

Kolkata

CA

View Details

26 May 2026

Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details

01 June 2026

Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details

Featured 26 May 2026

Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details

04 June 2026

Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details

ARTICLESHIP 15 May 2026

Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details

29 May 2026

Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details