Section 194B of Income Tax Act: TDS Rates & Calculations

Thiruvananthapuram: The Income Tax department is mulling action against lottery TDS is cut on source itself on prize money now The winners

194 B:- Winnings from lottery or crossword puzzle @30% 194 BB:- Winning from horse race @ 30% T Page 2 TAX BULLETIN MARCH, 2020 VOLUME - 59

tds on winning from lottery Section 194B of the Income Tax Act applies to TDS deductions from the income earned from winning the lotteries Learn about deductions, penalties, and more

tds on lottery The overall deducted TDS is claimed as a tax refund after a taxpayer files the Income Tax Return TDS deduction is applicable to such of the following income