consideration problem, Income Tax

[krishan sharma]

dear sir

I have a query  against special income if I have no normal income ( chargable slabe rate) and i wine a lottery and deduct the TDS from the lottery amount at 30% at the time of recieved  in this case i can consider the special income as a normal income  for refund income tax if lottery amount not exceed the exemted amount of slabe rate  plaese cleare my query

Posts / Replies

[Surender Gupta]

Section 115BB of Income Tax Act, 1961 provide the provisions for levy of tax on lottery income. It is 30% on such income. In case assessee does not have any other income, there is no scope of allowing basic exemption as per section 115BB.

To remove your doubt, you may also refer to section 112, where basic exemption has been allowed in respect of long term capital gains.