Levy and collection of tax on lottery

1 crore lottery tax
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The winner of the first prize will get around Rs 12 crore after deduction of taxes and agent's commission Published By: Vadapalli Nithin Kumar

Example 1 The total incomes of Shri Abhishek, Shri crore 20 lakh, then compute the amount of income-tax of him Solution

14 kerala lottery result As per Section 194B of The Income-tax Act, 1961, if the prize money exceeds ₹10,000, then the winner will get the prize money after the

16 9 23 lottery result According to the 1986 Finance Act as well as the Income Tax Act, lottery wins in India are subject to a fixed 30% tax rate When earnings exceed