TDS on lottery-ticket commissions: rate lowered and threshold increased, changing when tax deduction applies forthcoming. Amendment to withholding on commission, remuneration or prize from lottery-ticket transactions reduces the deduction rate from ten per cent to five per cent and raises the threshold for deduction from one thousand rupees to fifteen thousand rupees, with effect from 1 June 2016; the withholding remains triggered at the earlier of credit to account or payment during the financial year.
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Provisions expressly mentioned in the judgment/order text.
TDS on lottery-ticket commissions: rate lowered and threshold increased, changing when tax deduction applies forthcoming.
Amendment to withholding on commission, remuneration or prize from lottery-ticket transactions reduces the deduction rate from ten per cent to five per cent and raises the threshold for deduction from one thousand rupees to fifteen thousand rupees, with effect from 1 June 2016; the withholding remains triggered at the earlier of credit to account or payment during the financial year.
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