Taxes

TDS on Winnings from Lottery, Crossword Puzzle, Card Game or Game of any Sort. (sec.194B)

TDS on  Winnings from Lottery, Crossword  Puzzle, Card Game or Game of any Sort. (sec.194B)

 Person Responsible to Deduct Tax:

Any person paying the sum by way of winnings from lottery, crossword puzzle, card game or game of any sort.

Category of Payee:

All Assesses 

TAX Rate of Deduction of Tax:

30%

No TDS:

If the payment does not exceed Rs.5000/-

Time for Deduction of Tax:

At the time of payment: where prize money is in kind, before realizing the prize, the payer should ensure that tax has been paid in respect of the winnings.

Time for Deposit of TDS:

In case of deduction by or on behalf of Government, on the same day.
Other cases- within 1 week from the last day of the month of tax deduction.

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