Tax deduction on lottery winnings now triggers per single transaction rather than by annual aggregation. The Finance Bill, 2025 amends Section 194B to remove the aggregate-year threshold and instead require tax withholding on each single transaction that ... Summary
Tax deduction on lottery winnings now triggers per single transaction rather than by annual aggregation.
The Finance Bill, 2025 amends Section 194B to remove the aggregate-year threshold and instead require tax withholding on each single transaction that exceeds the statutory threshold, changing the trigger for deduction from annual aggregation to per-transaction basis; this amendment takes effect from 1 April 2025 (Clause 54).
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