Withholding on lottery winnings threshold increased, altering when payers must deduct tax on gaming payments. Amendment to section 194B raises the monetary limit that triggers mandatory deduction of income tax on winnings from lotteries, crossword puzzles, card games and other games from five thousand rupees to ten thousand rupees; payers making payments in excess of the revised limit must deduct tax at rates in force. The amendment takes effect from 1 July 2010.
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Withholding on lottery winnings threshold increased, altering when payers must deduct tax on gaming payments.
Amendment to section 194B raises the monetary limit that triggers mandatory deduction of income tax on winnings from lotteries, crossword puzzles, card games and other games from five thousand rupees to ten thousand rupees; payers making payments in excess of the revised limit must deduct tax at rates in force. The amendment takes effect from 1 July 2010.
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