Section 194B - Winnings from lottery or crossword puzzle

Union Budget 2025-26 (Full) + Finance Bill, 2025

Section 194B - Winnings from lottery or crossword puzzle

Section 194B of the Act requires that any person responsible for paying to any person any income by way of winnings from any lottery or crossword puzzle or card game and other game of any sort or from gambling or betting of any form or nature whatsoever, being the amount or the aggregate of amounts exceeding Rs. 10,000/- during the financial year shall, at the time of payment thereof, deduct income-tax thereon at the rates in force

2. It is proposed to remove the condition of threshold applying on aggregate of amounts exceeding Rs. 10,000/- and to now instead apply in respect of a single transaction.

3. This amendment will take effect from the 1st day of April 2025.

[Clause 54]

Full Text:

Union Budget 2025-26 (Full) + Finance Bill, 2025

Dated: 1-2-2025