Winnings by chance of luck

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Aparnaa (Querist)
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15 April 2009 If a person gets some gift, whether in cash or in kind, just because he's enrolled in their mailing list, what'll be taxability of transaction for him? He's selected for the gift by chance of luck and no participation or payment from his side?

can it be regarded as casual income and taxed under Income from other sources? Will TDS be deducted?

chetan soni

chetan soni (Expert)
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15 April 2009 Yes it will treated as casual income under other sources & will be taxed as per the slab.

If the gift amount is over & above Rs. 5K then TDS will be deducted.

chetan soni

chetan soni (Expert)
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15 April 2009 Yes it will treated as casual income under other sources & will be taxed as per the slab.

If the gift amount is over & above Rs. 5K then TDS will be deducted.

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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21 April 2009 yes...i support the expert

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