Corporate Tax Planning & Management 2022-23 & 2023-24

tax on lottery winnings india
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This is taxable in India at 30+ % as you are resident in India Actual inward fund flow is irrelevant because accrual has happened already

The taxability of any income in India depends on the residential status of the person If a person is a resident of India, his entire

taxes on $1 million dollars lottery winnings 20 September 2022, 10:56 AM IST · Prize amount: Rs 25 crore · Agent commission: Rs crore · The tax deducted directly by lottery department: Rs

taxes on 1 million dollars lottery winnings The Income Tax Act, 1961 has all along ensured that any income received by an assessee by way of winnings from lotteries, races,