A person won a third prize in lottery for ₹ 10,000 during the Financial Year 2024-25. How much amount of TDS will be deducted in this case ?

CS Executive · Tax Laws · PYQS · December 2024
A person won a third prize in lottery for ₹ 10,000 during the Financial Year 2024-25. How much amount of TDS will be deducted in this case ?
(A) ₹ 3,120
(B) ₹ 520
(C) ₹ 1,040
(D) NIL

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Income Tax Act

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