Babu Lal won a prize of ₹1,00,000 in Rajasthan State Lottery and Lottery Department paid him an amount of ₹70,000 after deduction of tax at source of ₹30,000. He had purchased lottery tickets for ₹8,000. The amount charg
CS Executive · Tax Laws and Practice · PYQS · June 2018
Babu Lal won a prize of ₹1,00,000 in Rajasthan State Lottery and Lottery Department paid him an amount of ₹70,000 after deduction of tax at source of ₹30,000. He had purchased lottery tickets for ₹8,000. The amount chargeable to tax in the hands of Babu Lal under other sources shall be :
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax
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