Babu Lai won a prize of ₹ 1,00,000 in Rajasthan State Lottery and the Lottery Department paid him an amount of ₹ 70,000 after deduction of tax at source of 130,000. He had purchased lottery tickets for ₹ 8,000. The amount chargeable to tax in the hands of Babu Lai under other sources shall be:

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Question:Babu Lai won a prize of ₹ 1,00,000 in Rajasthan State Lottery and the Lottery Department paid him an amount of ₹ 70,000 after deduction of tax at source of 130,000. He had purchased lottery tickets for ₹ 8,000. The amount chargeable to tax in the hands of Babu Lai under other sources shall be:

1.₹ 70,000

2. ₹ 1,00,000

3. ₹ 92,000

4.None of the above

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  1. Babu Lai won a prize of ₹ 1,00,000 in Rajasthan State Lottery and the Lottery Department paid him an amount of ₹ 70,000 after deduction of tax at source of 130,000. He had purchased lottery tickets for ₹ 8,000. The amount chargeable to tax in the hands of Babu Lai under other sources shall be:
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