Lottery Ticket Sales Income Now Subject to 5% TDS for Transactions Above Rs. 15,000 Until March 2025
Tax deduction at source (TDS) applies to commission, remuneration, or prize income from lottery ticket sales. For transactions over Rs. 15,000 (up to 31.03.2025) and Rs. 20,000 (from 01.04.2025), a 5% tax rate (reducing to 2% from 01.10.2024) will be deducted at the time of payment or credit. The provision covers entities stocking, distributing, purchasing, or selling lottery tickets, with the paying entity responsible for tax deduction.