if a child wins a lottery of 100000...is he liable to pay any tax...if yes % rate and why so..
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 25 July 2017
CHILD IS MINOR SO ITS LOTTERY INCOME WILL BE CLUBBED WITH HIS PARENT 'S INCOME AND YES TAXABLE @ 30% FLAT
Navin Agarwal
(354 Points)
Replied 25 July 2017
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 25 July 2017
if income so clubbed with parents income so it will be more than 2.5 L so taxable
M.Ganesan
(Visiting faculty ICSI)
(29 Points)
Replied 25 July 2017
CA Sanjay D Shirguppe
(Proprietor)
(24 Points)
Replied 25 July 2017
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 25 July 2017
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
