TDS From Commission Etc., On sale of Lottery Tickets (Sec.194G)

Person Responsible to Deduct Tax:

Any person

Category of Payee:

Any person stocking, purchasing or selling lottery tickets.

Rate of Deduction of Tax:

10%

No TDS:

Payments not exceeding Rs.1000/-

Time for Deduction of Tax:

At the time of credit or payment whichever is earlier

Time for Deposit of TDS:

In case of deduction by or on behalf of Government, on the same day.

In all other cases:

1. If the amount is credited on the last day of the accounting year– within 2 months from the end of the month in which it is credited.
2. Other cases- within 1 week from the last day of the month of tax deduction.

Deduction of Tax at Lower Rate or Non-Deduction of Tax:

Application of Form No. 13 shall be made to the assessing officer.
Certificate in Plain Paper shall be issued by the assessing officer to the assessee.