Tax on Lottery, Gambling, and Betting

Tax Glossary Definition

Tax on Lottery, Gambling, and Betting

As per Section 115BB of the Income Tax Act, winnings from lotteries, crossword puzzles, gambling, or betting activities are subject to a flat tax rate of 30%. No deductions or exemptions can be claimed against such income.

Example: If a person wins ₹2,00,000 in a lottery, the tax liability will be ₹60,000, excluding surcharge and cess.

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