Section 194B: Tax Deduction on Winning from Lottery or Crossword Puzzle.
Income Tax : A summary of Tax Deducted at Source (TDS) rates under various sections of the Income-tax Act, 1961, covering payments to resident ...
Income Tax : CBDT's new Compounding of Offence Guidelines (2024) simplify the process but maintain strict compliance rules. Learn about eligibi...
Income Tax : Section 194B amendment to apply TDS on lottery, gambling winnings over Rs. 10,000 in a single transaction, effective from April 20...
Income Tax : Finance Bill 2025 proposes new TDS thresholds for various sections, including interest, dividends, and commissions, effective Apri...
Income Tax : In the context of the Income Tax Act of 1961 in India, winnings typically refer to income earned through activities such as lotter...
Income Tax : Introduction: The Government of India, under the Ministry of Finance, has recently responded to pertinent questions in the Lok Sab...
Income Tax : The issue was whether stake money paid to horse owners attracts TDS under Sections 194B or 194BB. The Tribunal held that stake mon...
Income Tax : The dispute concerned denial of TDS credit solely due to non-reflection in Form 26AS. The Tribunal held that Form 26AS is not conc...
Income Tax : ITAT Agra held that reassessment under Section 144 by JAO is valid even though faceless procedure under Section 144B was generally...
Income Tax : Delhi High Court restored conviction of Great Indian Nautanki Co. Pvt. Ltd. for delayed TDS deposit but replaced ₹25 lakh fine w...
Income Tax : The Bombay High Court stayed orders treating PCMC as an assessee in default for not deducting TDS on issuance of TDRs, holding tha...
Section 194B amendment to apply TDS on lottery, gambling winnings over Rs. 10,000 in a single transaction, effective from April 2025.
Finance Bill 2025 proposes new TDS thresholds for various sections, including interest, dividends, and commissions, effective April 1, 2025.
Kerala High Court held that TDS never deducted and entire amount of TDS was paid along with penal interest hence initiation of prosecution under section 276B of the Income Tax Act unjustified. Accordingly, all the proceedings quashed.
Delhi High Court rules in favor of employee, stating the employer is responsible for TDS deposit. Petitioner exempted from tax liability. Details and analysis here.
In the context of the Income Tax Act of 1961 in India, winnings typically refer to income earned through activities such as lotteries, crossword puzzles, races, card games, gambling, betting, or any other kind of game of chance or skill.
Introduction: The Government of India, under the Ministry of Finance, has recently responded to pertinent questions in the Lok Sabha regarding tax evasion, particularly focusing on the evasion of TDS. The queries address concerns related to the disbursement of lottery prizes, potential amendments to tax laws, and actions taken against lottery distributors involved in GST […]
Explore tax implications of online gaming in India under Finance Bill, 2023. Learn about new tax deductions and regulations for online gaming income.
