Surcharge on lottery

This query is : Open

Shirish Shah (Querist)
Follow

20 May 2016 HELLO SIR,

If a person wins lottery of one crore fifty lakhs, he gets 70% amount of winning i.e. one crore five lakhs, his tds would be 45 lakhs, while filing his return for a.y. 16-17 will he also have to pay surcharge on his total tax liability, as his net taxable income would be more than 1 crore?

pls answer my query,

Regards G. S. Shah

SANTOSH SAGAR K

SANTOSH SAGAR K (Expert)
Follow

21 May 2016 yes. surcharge and education cess are not applicable on the TDS made on payments to residents. Surcharge and cess on such amount has to be paid.

Message likes : 1 times