Tds on prize won from running competition - Income Tax

Threshold limit under section 194B and 194BB (horse racing in any

All the deducted TDS gives you tax credits and reduces your tax liability So, for example, if you end up paying 30% TDS on a lottery payment of Rs 300,000

tds on lottery As per section 194B of the income tax act, all the winnings over and above Rs 10,000 will be subject to a TDS of 30% With cess and surcharge,

tds on lottery income Section 194B of the Income Tax Act is a provision that requires the deduction of tax at source on winnings from lotteries,