26 November 2010
Sir, My uncle purchased lottery ticket on the name of my cousin worth rs. 500000/- and win the lottery after he purchased car worth rs.600000/- including lottery amt for the purpose of rent the car and receive 2000/- from rented car. my question is that sir which income is clubbed in the hands of my uncle lottery income or rental income ? both income was received in same year
29 November 2010
U have not mentioned in whose name the car was purchased. If it is in the name of ur Uncle, rent will obviously be his income.
Lottery amount will be clubbed in ur uncle's income. If the car is in ur Cousin's name, the rental will be charged in cousin's income and will not be clubbed.
CAclubindia
