Suresh (age 65) won a prize on a lottery ticket on 30.9.2020. The prize amount was ₹ 5,50,000. He had bought lottery tickets for 175,000 during the year. Assuming that he had no other income chargeable to tax for the year, his income-tax liability (including cess @ 496) would be:

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Question:Suresh (age 65) won a prize on a lottery ticket on 30.9.2020. The prize amount was ₹ 5,50,000. He had bought lottery tickets for 175,000 during the year. Assuming that he had no other income chargeable to tax for the year, his income-tax liability (including cess @ 496) would be:

1.₹ 1,71,600

2. ₹ 30900

3.₹ 36,050

4. ₹ 10,300

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  1. Suresh (age 65) won a prize on a lottery ticket on 30.9.2020. The prize amount was ₹ 5,50,000. He had bought lottery tickets for 175,000 during the year. Assuming that he had no other income chargeable to tax for the year, his income-tax liability (including cess @ 496) would be:
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