In respect of winnings from lotteries and races choose the correct statement
A. Tax is charged at a flat rate of 30% percent + surcharge (if applicable ) and health & educationcess
B. Tax is deducted @ 30% + surcharge if applicable, if winnings from lotteries or cross word puzzles exceeds ₹ 10,000
C. If winnings from horse races exceeds ₹ 10,000 payer is liable to deduct tax at source
D. All of the above
Answer:B
In respect of winnings from lotteries and races choose the correct statement
A. Tax is charged at a flat rate of 30% percent + surcharge (if applicable ) and health & educationcess B. Tax is deducted @ 30% + surcharge if applicable, if winnings from lotteries or cross word puzzles exceeds ₹ 10,000 C. If winnings from horse races exceeds ₹ 10,000 payer is liable to deduct tax at source D. All of the above