Register Price / Packages DEMO Option My Bookmarks Daily Newsletters Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
TMI - e-Newsletter     TaxTMI    Levy of GST - Royalty- seigniorage fee paid by the...     TaxTMI    Levy of Penalty u/s 129(3) of the Central Goods and...     TaxTMI    Levy of penalty - goods were undervalued - The High...     TaxTMI    Cancellation of GST Registration - Legal Validity...     TaxTMI    Control of income-tax authorities - U/s 118 -...     TaxTMI    Foreign Exchange Management (Foreign Currency...     TaxTMI    Amendment to Regulation 3.1 of FEMA, Mode of...     TaxTMI    Amendment to Regulation 4 of FEMA, Mode of Payment...     TaxTMI    Securities and Exchange Board of India (Investment...     TaxTMI    Securities and Exchange Board of India (Research...     TaxTMI    Taxation on gains arising out of compulsory...     TaxTMI    LTCG - year of assessment - The Tribunal noted...     TaxTMI    Penalty u/s. 270A - Under-reporting of income /...     TaxTMI    Exemption u/s 11 - assessee has not e-filed or not...     TaxTMI    Scope of SCN - impugned order proceeds on a...     TaxTMI    Latest Case-Laws     TaxTMI    Latest Notifications + Circulars     TaxTMI    GST Council Decisions     TaxTMI       Right Stop
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights October 2014 Year 2014 This

Taxability of prize money of 1 kg. of gold won by the assessee – ...

Income Tax

October 21, 2014

Taxability of prize money of 1 kg. of gold won by the assessee – The expression 'lottery' would involve an element of 'chance' whereas when a person is making investment in a scheme like Savings Scheme then there is no element of 'chance' nor he loses any money invested by him - HC

View Source

 

← Previous Next →

 

You may also like:

  1. Taxation of Value of 1 kg. of gold as winning from “Lottery” - Essential ingredients of `lottery’ as it stood prior to the insertion of Explanation to section 2(24)(ix)...

  2. Income earned by way of winning of Sikkim State lottery - assessee is liable to pay income tax on the prize money as she is resident of India and received the prize...

  3. Levy of tax on lotteries - Valuation - when prize paid by the distributor/agent is not contemplated to be excluded from the value of taxable supply, we are not persuaded...

  4. Nature of income – Prize money received on unsold tickets – prize won on such tickets amounts to income by way of winnings from lottery - The provision of Section 115BB...

  5. Brand Promotion services - amount payable to players - the prize money was not given by the franchisee, it’s rather the money received from BCCI directly for winning and...

  6. Prize winning from certain unsold tickets - special rate of tax, i.e., 30 per cent. provided under section 115BB of the Act is applicable even if winning from lottery is...

  7. Prize money winning out of unsold lottery tickets - business income OR income from other sources - A.O. treated this income separately and assessed the income as income...

  8. Levy of GST - prize money received from the horse racing clubs for winning the horse race competition - Taxable supply or not - The prize money/ stakes will not be...

  9. Revision u/s 263 - TDS u/s 194B on payments made to players on winnings from lotteries/crossword puzzles - It is not evident that the AO examined/verified whether the...

  10. TDS on the ‘stake money’ paid to the horse owners on winning of races - Circular No. 240 dated 17.05.1978, clarified that tax was not required to be deducted u/s 194BB...

 

Quick Updates:Latest Updates

What's New:
    Latest Case Laws
What's New:
    Latest Notifications
What's New:
    Latest Circulars
C: Instruction on review of requirement of G-Card holders at a Customs St...
F: Late claim of ITC -16(4)
F: Addition of unaccounted supplies in the Returns
F: Penalty under Section 73(1) of CGST Act, 2017
F: ONLINE SOFTWARE IMPORT DUTY CALCULATION REG
F: QUANTUM OF PENALTY UNDER THE IGST ACT
A: Supreme Court orders about alleged bogus capital gains on alleged penn...
C: Verification of authenticity and genuineness of Certificate of Origin ...
H: Levy of interest and penalty - transition of amount wrongly claimed as...
C: Acceptance of Electronic Certificate of Origin (e-CoO) issued by the i...
H: Levy of penalty @200% - e-way bill which was generated by the appellan...
H: Eligibility for Input Tax Credit - Failure to report outward supply - ...
H: Seeking cancellation of the GST registration - The case involved a pet...
H: Reference to Departmental valuation officer [DVO] without first reject...
H: Validity of reopening of assessment - Validity of grant the approval b...
H: Validity of reopening of assessment - Petitioner received another noti...
H: Penalty levied u/s 271(1)(c) - Transfer pricing adjustment - assessee ...
H: Disallowance of commission paid to foreign agents - The Tribunal uphel...
H: Penalty u/s. 271(1)(c) - Referring to a precedent set by the Hon’ble S...
H: Deduction u/s 80IA(4) - Disallowance of project facility expenses - Re...
H: LTCG - deduction u/s 54 denied - Despite the assessees claim of having...
H: Validity of assessment framed u/s 143(3) by Non- jurisdictional ITO - ...
H: Addition u/s 69A - cash loans given by the assessee as unexplained - d...
H: Addition u/s 68 in the hands of partnership firm - capital introduced ...
C: Nomination for Mutual Fund Unit Holders – exemption for jointly held folios
C: Ease of doing business- Fund manager for Mutual fund schemes investing...
N: Reporting Entities notified for Aadhaar authentication service of the ...
N: Regarding amendment in Notification No. 77/2023 -Cus. (N.T.) dated 20....
A: Navigating the MSME Terrain: Insights from a Consultant's Perspect...
A: How to Decode the Form 16A Password for TDS on Non-Salary Income