Millionaire Mode

Taxation of Gambling Winnings: Computation and Assessment

Question 1 of 14

In India, gambling winnings are subject to taxation under which act?

  1. The Income Tax Act, 1961
  2. The Gambling Act, 1970
  3. The Finance Act, 2020
  4. The Wealth Tax Act, 1957

Prize Money

15₹7 Crores
14₹1 Crore
13₹50,00,000
12₹25,00,000
11₹12,50,000
10₹6,40,000
9₹3,20,000
8₹1,60,000
7₹80,000
6₹40,000
5₹20,000
4₹10,000
3₹5,000
2₹2,000
1₹1,000