Gambling Personal income types - Franchise Tax Board -

are lottery tickets tax deductible
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No income tax deductions can be claimed on the winning amount When a prize has both a cash and a non-cash component, TDS is deducted from the

Provided that, where a lottery dealer has paid the tax under this sub-section, no tax shall be payable in respect of the subsequent sale of such lottery tickets For a donation to be tax deductible, it must be made to an organisation endorsed as a deductible gift recipient It must also be a genuine gift

lottery sambad 5 5 2024 Depending on your other income and deductions, amounts withheld by the Lottery on your winnings may or may not be sufficient to meet your total tax obligation  Since international lottery drawings take place in other countries, they are not subject to Indian regulations