Scratch winning
This query is : Resolved
25 September 2009
hi
Can somebody tell me
Does the scratch winning is covered in winning from lottery. i think it is only buisness promotion scheme, will not cover under lottery and also not liable to tax.
Please clarify with reference case laws or section and whether company has to deduct tds on that?
Thanks in advance
Can somebody tell me
Does the scratch winning is covered in winning from lottery. i think it is only buisness promotion scheme, will not cover under lottery and also not liable to tax.
Please clarify with reference case laws or section and whether company has to deduct tds on that?
Thanks in advance
26 September 2009
Yes, It is.
Rate will be normal tax rate i.e. if the winner doe's not have taxable income he may claim refund of TDS.
Rate of TDS will be 30% as per Sec 194B
Rate will be normal tax rate i.e. if the winner doe's not have taxable income he may claim refund of TDS.
Rate of TDS will be 30% as per Sec 194B
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