Income tax

Income tax winning from lottery is taxable under which head of income No, winnings are taxed at a flat rate of % They are not taxed at the tax slab rate of the individual Q- When will awards be tax-free? winning powerball numbers for july 6th heads of income above is taxed under the head income from other sources Example is interest income from bank deposits, winning from lottery

winning powerball numbers for july 6th Exempt income · disability support pension paid by Centrelink to a person who is under age-pension age · invalidity service pension paid under the Veterans'

winning patterns in tambola According to the Income Tax Act, 1961, any income by way of winnings from any lottery, crossword puzzle, card game, or other game of any sort is taxable under In the case of winnings from horse races, income is taxable at % without any exemption limit · There would be no deduction of any