TDS on lottery commissions: withholding required at payment or credit, with suspense account credits treated as triggering deduction. Section 194G requires any payer of commission, remuneration or prize on lottery tickets exceeding twenty thousand rupees to deduct income-tax at two per ... Summary
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TDS on lottery commissions: withholding required at payment or credit, with suspense account credits treated as triggering deduction.
Section 194G requires any payer of commission, remuneration or prize on lottery tickets exceeding twenty thousand rupees to deduct income-tax at two per cent at the time of credit to the payee's account or at payment, and deems credit to any account (including a suspense account) in the payer's books to be credit to the payee for triggering the deduction obligation; earlier subsections on certificates for lower or nil deduction have been omitted.
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