Tds on Winnings from lottery or crossword puzzle.
Section : 194B
Payer : any person
Payee : any person
Nature of transaction : Income by way of winnings from any lottery or crossword puzzle or card game and other game of any sort
Threshold limit : ₹10,000
Tds rate : 30%
Notes : In a case where the winnings are wholly in kind or partly in cash and partly in kind but the part in cash is not sufficient to meet the liability of deduction of tax in respect of whole of the winnings, the person responsible for paying shall, before releasing the winnings, ensure that tax has been paid in respect of the winnings.
Source "income tax india"
0 Response to "Section -194B Winnings from lottery or crossword puzzle"
Post a Comment