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All Questions -> Taxability of lottery winnings (U/s 115BB) -> All Types

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Subhasish mishra

Category : Taxabili.., Taxabili..,

Solved

August 4, 2019 11:50 pm

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Taxability for winnings on lottery

Tds of approximately 16000 is dedicated on my lottery winning of 50k. It is showing in my tds deducted section also. I have certificate for this deduction also. Please explain how I can get this 16000 back as my net income is below 3l.

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Amlan Dutta

In short you wont be able to claim back refund of deducted tds in this case because lottery winnings don't enjoy any slab or basic exemption limits and is taxed at flat rate of 30% which after adding cess will amount to 31.2% u/s 194 B i.e in this case 0.312 x 50,000 = 15,600 Rs

TDS will be ap...

August 5, 2019

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Jitendra B

Even if lottery win amount was the only income during the financial year, the 31.20% tax is payable no matter what?

August 7, 2019

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Jitendra B

That means Govt does not want a person to make a living just on lottery income. If one decides to make a living just on lottery income, govt says to pay full tax.

August 10, 2019

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Neha namdev

Category : Taxabili..,

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July 19, 2018 4:34 pm

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Taxability of lottery winnings (U/s 115BB)

Hi
I am a government employ. And I won some money in tv show .Which is TDs deducted under section 194b .Which itr form I need to file

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Neha namdev

I talk to itr helpline they told me to file itr 2 .I am confused

July 19, 2018

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Neha namdev

I just want to know if I file itr1 their is any problem for me

July 19, 2018

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