How much tax has to be paid on lottery or game show prize money?

As per section 115BB of the Income-tax Act,1961, the entire income from winning lotteries, games show, etc will attract tax at the rate of 30%

Ashwini Kumar Sharma
Updated9 Oct 2017, 07:34 PM IST
Anamika Majumdar, who won Rs1 crore as prize money in Kaun Banega Crorepati 9
Anamika Majumdar, who won Rs1 crore as prize money in Kaun Banega Crorepati 9(Anamika Majumdar, who won Rs1 crore as prize money in Kaun Banega Crorepati 9)

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

Business NewsMoneyPersonal-financeHow much tax has to be paid on lottery or game show prize money?
MoreLess
First Published:9 Oct 2017, 05:17 PM IST
Most Active Stocks
Market Snapshot
  • Top Gainers
  • Top Losers
  • 52 Week High
Recommended For You
    More Recommendations
    Gold Prices
    • 24K
    • 22K
    Fuel Price
    • Petrol
    • Diesel
    Popular in Money