INCOME FROM OTHER SOURCES

This query is : Resolved

ABHISHEK (Querist)
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11 June 2008 Dear Friends,
I am Abhishek Sabhaya from Gujarat.

So my question is : Can any payment be taken as deduction against Winnings from Lotteries, games, etc. ?

Please give answer after thinking good.

Best of Luck.....:-);-)

abhi(420)

ABHISHEK

ABHISHEK (Querist)
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12 June 2008 hii

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)
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15 November 2008 nO, DEDUCTION IS ALLOWABLE AS PER THE IT ACT ON THESE TYPE OF INCOMES.
Only deduction mentioned at http://law.incometaxindia.gov.in/TaxmannDit/DispCitation/ShowCit.aspx?fn=http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2008ITAct/section57.htm
allowable in income from other sources.

**DM

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