Winnings from lottery, crossword puzzles, races, card games, and similar sources attract TDS under Section 194B at the rate notified in the Finance Act.
What winners should do
- Check Form 26AS for TDS deducted by payer
- Report gross winnings under income from other sources
- No deduction for expenses against such winnings in most cases
- Pay balance tax if TDS is less than final liability
We help with personal tax filing and AIS reconciliation in Coimbatore.
