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Regarding lottery winning

This query is : Resolved 

09 May 2015 hello experts

kindly solve my below mentioned query;

mr x has won motorcycle in lottery winning in financial year 2014-15. mr x has paid tax @ 30% on the amount of motor cycle. Do mr x need to disclose this transaction in his ITR-4? he has made certain exps on that also like rto registration etc. How will he show this transaction in his return ? please provide guidance for this.

10 May 2015 yes. you need to declare it in your tax return. but no expenses is allowed against this income.



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