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Income Tax

1 reply, 2 voices Last updated by Aaditya yadav 5 months, 1 week ago
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    Vaishnavi Wadhwa

    What is Casual Income in Income Tax?


    Aaditya yadav

    Casual income is an income earned by chance. This is of non-recurring nature. Income earned from winnings lotteries, horse races, crossword puzzles, card games, betting or any other games is known as casual income. Casual Income is taxed at a flat rate of 30%.

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