Tax on Winning Game Shows & Lotteries

Similar to lotteries, the income from crossword puzzle winnings is taxable taxable under the head income from other sources as under: Particulars

One-time incomes such as winnings from lotteries, horse races taxation under 'Income from Other Sources' head 6 Gifts Gifts received in

winning from lottery is taxable under which head of income 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

winning powerball ticket sold in sun valley The interest income earned must be declared under the head 'Income from Other Sources' Yes, the winnings from a lottery are taxable under the applicable rate