Topic no 419, Gambling income and losses

While filing your income tax return you must include prize money under 'income from other sources' and, you must submit the TDS certificate as

All gambling winnings are taxable including, but not limited to, winnings from: Lotteries; Raffles; Horse races; Casinos

dog house megaways slot demo When you win the lottery, your winnings are considered ordinary taxable income Your prize money is taxed at the same rate as your wages and

docp054 Such gains are subject to taxation under the Income from Other Sources heading Taxes that are due must be paid, or else fines and legal