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Mr Nyati has won a lottery prize. After deduction of tax, he received ?7 lakhs. He has spent ?20,000 by way of purchase of lottery tickets and for collecting the prize money. The amount chargeable to tax in his hands in this regard is

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The syllabus (and study weightage):
A. Advanced Direct Tax Laws 50%
B. International Taxation 30%
C. Case Study Analysis 20%


Mr Nyati has won a lottery prize. After deduction of tax, he received ?7 lakhs. He has spent ?20,000 by way of purchase of lottery tickets and for collecting the prize money. The amount chargeable to tax in his hands in this regard is






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