Tax on lottery income

Page no : 2

manish sharma (ca final) (110 Points)
Replied 26 March 2012

Dear Raj Kumar

please file your IT Return & claim refund of Rs.30000/-if other income is zero.

YOGESH (STUDENT) (128 Points)
Replied 26 March 2012

He has to pay Education Cess @ 2% and Secondary & Higher Education Cess @ 1%

chandrakant shah (professor) (31 Points)
Replied 29 March 2012

Assessee has to pay tax on casual income including lottery income, irrespective of other income. Special tax rate on lottery income is 30%. On the amount of income tax, assessee has to pay 3% education cess. There is no exemption, deduction and rebate under the Income Tax Act. for casual income.Assessee has to file the IT return.

Dr. C. K. Shah

chandrakant shah (professor) (31 Points)
Replied 29 March 2012

Yes assessee has to pay education cess @ 3% on the amount of tax. Assessee has to pay tax on the income of lottery @ 30%, irrespective of other income. There is no rebate, diduction and exemption on the income of lottery. Assessee has to file the return of Income by 31 st July.

Dr.C.K.Shah

Rahul Kumar (7 Points)
Replied 10 October 2017

What will happen if the lottery winning was 10000 only, will it be added to his gross total income ?

Milind Pandit (2 Points)
Replied 13 January 2018

Originally posted by : Balram Begari
	Dear Sir, I am little confused that what you are to suppose to ask anyway on the provided information i will tell you what to do. Your friend won lottery and earnred Gross Amount of Rs 100000/- but where as the Company deducted TDS of Rs 30000/- U/s 194-B (any payment earn from lottery above Rs 10000/- subject to TDS @ 10%) and therefore after deducting TDS of Rs 30000/- your client got Net of Rs 70000/- where as your client might got Form 16A for Deduction of TDS (where he cliam in fliling Income Tax return). In your above information provided that your client no source of Income then, this income to be considered under Income from others (as you correctly stated). But in your in case date of lottery winning not mentioned anyway i will considered as AY.2011-12 (FY 2010-10) Anyway you can file ITR-2 With claimng Refund of Rs 30,000/- (as your client not even crossed theresold of Rs 1,80,000) best regards, Balram