If A non resident individual or Company or Firm or other body earns lottery prize of Rs.1,00,000 and Commission paid to lottery agent of Rs.30,000 then Is Rs.30,000 this deductible or not?
If no other conditions are there?
Again, If a Resident HUF or Company or any other body earns lottery prize of Rs.1,00,000 and Commission paid to lottery agent is Rs.30, 000. If both the lottery organizer and agent is government sponsored then this Rs.30,000 in lieu of commission paid is deductible or not?
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Taxability of lottery income
Replies (2)
Quick Summary
The lottery winner cant claim any deduction whatsoever. the residential status of winner will make no impact
In both cases TDS will be deducted
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