https://www.taxtmi.com/manuals?id=6891 A wagering contract arises where two parties, holding opposite views on an uncertain future event, agree that one will win and the other will pay a stake, with neither party having any interest other than the stake; reciprocal risk is essential and the absence of the possibility of loss or gain for a party excludes the arrangement. Prize-money payments on lottery tickets are treated as falling within this expression. en-us Mon, 20 Jan 2025 10:46:00 +0530 Thu, 19 Jun 2025 15:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=6891 A wagering contract arises where two parties, holding opposite views on an uncertain future event, agree that one will win and the other will pay a stake, with neither party having any interest other than the stake; reciprocal risk is essential and the absence of the possibility of loss or gain for a party excludes the arrangement. Prize-money payments on lottery tickets are treated as falling within this expression. Manuals Indian Laws Mon, 20 Jan 2025 10:46:00 +0530 https://www.taxtmi.com/manuals?id=6891