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Thursday, 22 March 2018

Kerala lottery prize tax - Agent commission

Prize tax and prize claim 


 The prize winners are advised to verify the winning numbers with the results published in the Kerala Government Gazette and surrender the winning tickets within 30 days and with all necessary documents. Prizes up to Rs. 1Lakh might be guaranteed from the District Lottery Offices concerned. Prize-winning tickets above Rs.1 Lakh should be surrendered before the Director of State Lotteries in the wake of fastening the mark, name, and address of the prize champ on the posterior of the tickets with the accompanying documents.

1.A claim application both sides a Photostat duplicate of the two sides of the ticket, self-                 authenticated.

2. 2 passport size photo

3. A receipt for the prize cash in the endorsed shape fastening an income stamp worth Rs.1/ - with      full address of the prize-champ

4. If the prize winner is a minor, Guardianship certificate from a competent authority.

5. In the event of joint cases, one of the prize-champs ought to be approved to get the prize cash and a 'Joint Declaration' in stamp paper worth Rs. 50/ - ought to be executed.

6. Attested copy of PAN card is a must.

7. To prove identity attest the copy of aadhar card, Ration card, Voter id, passport.

Prize sum can likewise be guaranteed through Nationalized, Scheduled or State/District Co-Operative banks. The prize winning ticket ought to be surrendered to the save money with all the above reports, if vital. The bank ought to present the claim to the Director of State Lotteries with the accompanying declarations:

1. Authority letter from the prize winners.

2. The certificate from the receiving bank.

3. From the collective bank certificate.

Kerala Lottery Prize Tax


For prize cash more than Rs. 10,000, pay the charge at winning rate will be deducted and credited to the focal government account. Starting at now, an Income expense of 30% will be deducted for all the prize winning cases surpassing Rs. 10,000/ - For the specialist's prize claims a sum proportional to 10% of the claim will be deducted from pay charge. By and by no extra charge or instructive cess is deducted according to the Income Tax rules. 

prize winning tickets above Rs.1 Lakh and to Rs.20 Lakhs might be passed for installment by the Deputy Director(Prize) and that over 20 lakhs by the Director.


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