Prize received on unsold lottery tickets by lottery stockist shall be

Thus, this head is the residuary head of income and brings within its scope all the taxable income, profits or gains of an assessee which fall outside the scope

All such income are always taxed under the head “Income from other sources” as per section 56 According to the above clause, lottery

winning powerball ticket sold in sun valley In this video we have discussed special taxation under income tax in case of Lottery or Game

winning powerball numbers for july 6th The prize money so distributed falls within the meaning of “winning from any card game and other game of any sort” and therefore, under section