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WebMar 27, 2024 · What are the taxes applicable for lottery income of Rs. 1 crore in India? Winnings from a lottery have a flat 31.2% TDS applicable, including surcharge and cess under Section 194B. So, winnings of Rs. 1 crore will have Rs. 31.2 lakh TDS applicable u/s 194B (31.2% of Rs. 1,00,00,000). WebA plain reading of the aforesaid provisions of the Act makes it abundantly clear that if a foreign cricket team, by virtue of agreement among the various teams of different cricket-playing countries, participates in a cricket match played in India and an agreed amount is paid to such a team for participating in such a match in the form of prize money, such … middletown health food store
How is prize money taxed in India?
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