If A non resident individual or Company or Firm or other body earns lottery prize of Rs.1,00,000 and Commission paid to lottery agent of Rs.30,000 then Is Rs.30,000 this deductible or not?
If no other conditions are there?
Again, If a Resident HUF or Company or any other body earns lottery prize of Rs.1,00,000 and Commission paid to lottery agent is Rs.30, 000. If both the lottery organizer and agent is government sponsored then this Rs.30,000 in lieu of commission paid is deductible or not?
2 Replies
veerendar singh
(tax consultant)
(3301 Points)
Replied 11 September 2021
The lottery winner cant claim any deduction whatsoever. the residential status of winner will make no impact
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 12 September 2021
In both cases TDS will be deducted
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