Lottery-like taxation: Fear grips F&O traders as 30% tax likely on

income tax on lottery winnings in india
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Section 194BA

According to Manikandan S, a tax expert from ClearTax, The Income Tax Act classifies game show and online game winnings as income, taxable at a

income tax slot Income from winnings of a lottery, horse race, gambling, etc under the head of other sources Both short and long-term capital gainslosses

income tax on lottery winnings in india A provision for 1% TDS deduction on payments made on transfer of virtual digital assets , such as cryptocurrencies & non-fungible tokens (