winning from lottery

exemption is not available & amount will be recd post tds deduction @ 30% flat. 

to dear C BALAJI,

                              Basic Exemtion(i.e. Rs. 160000) is allowd to Gross Total Income(GTI) under which all 5 heads of income come.

but there are some exception incomes wchich can not be included in GTI and for them special rates are specified in  Income Tax  Act. like lottery income must be tax @ 30%

i also agree aith aamir as no setoff ,deduction and basic exemption limit is allowed in lottery income becoz it is a effortless income of assesse

Agree With Aamir.........

Flat 30%....

No xemption Limit.....whther its 1000 or 100000

Sec 115BB is a special section..it in one way overrides the maximum exemption limit by specifically stating that lottery income will b taxed at 30% and rest income will be taxed as per other porvisions of the act.....I guess you mis understood ur professor Balaji

Lottery Income is considered as special income. On this income no basic exemption is allowed. Even if you dont have any other income, the rate of tax is flat 30% plus applicable surcharge and education cess.

yes, no exemption limit is available on lottery income.'

the assessee who have income less then the basic limit then even he is not able to claim the refund on lottery income. 

Dear Balaji, Amir is right coz winning form lottery attracts flat 30% tax/TDS.That A cannot claim as it is not advance tax,

In which state tax on winning from lottery is exempted? Assam?

One of my friend told that in a particular state in india, if we win from lottery we should not pay any tax. I want to know in which state it is exempted.

Hi,

Pls check TDS is remmitted to govt. because payer going to Deduct TDS if  award  is more than Rs. 10000/-