Income Tax Updates 2024-25: Key Changes and New Rules

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In this post, we will look into TDS Section 194B under Income Tax The winnings from lottery, puzzle, game, and horse races are taxed here

Winnings from a lottery have a flat % TDS applicable, including surcharge and cess under Section 194B So, winnings of Rs 1 crore will have taxed and reported under the heading income from other sources Here are a few typical examples of taxable awards: Wisden Cricketer Award

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