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Income tax
Is income tax applicable on literary awards ( 21000 cash) from haryana Sahitya academy on 17 march 17. If yes how is it pay.
Replies (1)
Depends upon the nature of the award........
Generally, such lottery type awards are chargeable at 30% slab rate.
But if No TDS deducted over the award........ better to add it as income from other sources......
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