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(Querist)
21 February 2011 an individual gets lottery prize of rs. 30000 and he has no other income.
will he be taxed?can he claim the basic exemption?
please suggest
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
21 February 2011 Yes one claim basic exemption limit
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
21 February 2011 Basic exemption can't be availed. Pl see section 115BB of the IT Act,1961.
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