Tax is deducted at source on winning from lottery, the rate for such deduction in case of resident individual deductee is:

Related MCQs

• Tax to be collected at source in case of commission on sale of lottery tickets.
• When a charitable trust registered u/s 12AA pays Rs. 50,000 towards rent to a resident for the premises occupied by it without deduction of tax at source for the entire previous year 2018-19, the amount of rental expenditure liable for disallowance would be ________.
• Tax is required to be deducted at ………… from rent payable on plant and machinery to a resident (Assuming PAN details are available)
• Tax is required to be deducted at …….. from interest payable to a resident. (Assuming PAN details are available)
• When a resident senior citizen having gross total income of Rs. 5,56,000, has derived interest from savings account in a nationalized bank of Rs. 8,200 and fixed deposit interest of Rs. 47,000 from such bank, he is eligible for deduction of Rs. ________ from the gross total income.
• As per section 271H, where a person fails to file the statement of tax deducted/collected at source i.e. TDS/TCS return on or before the due dates prescribed in this regard, then he shall be liable to pay penalty under section 271H. Maximum penalty that can be levied is ______.
• When tax is not deducted at source on annual rent of Rs.2 lakhs paid to landlord by a company, the amount liable for disallowance under section 40(a) (ia) is
• When a charitable trust registered under section 12AA paid rent of Rs. 50,000 per month throughout the PY 2018-19 and no tax was deducted at source, the amount of expenditure to be considered for computing the application of income by the trust would be __________ .
• A winning from lotteries is Rs. 50,000 and expenses incurred to earn such income is Rs. 5,000. Its taxable income is
• Tax payable by a resident individual, if he has long term capital gain of Rs. 2,60,000 but has no other income is: