Win big? Not so fast, says the taxman

do you pay tax on the lottery
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10,000 from games, TV shows, quiz shows, betting, etc , will be subject to a TDS rate of 30% plus cess The winnings cannot be combined with the

Which means 50% of that increase in value would go into your income to be taxed There is however a way to avoid the tax through the principle residence Lottery winnings are tax free but any income earned on those winnings is taxable and should a winner choose to gift some cash to their relatives

free slot play no registration When a winner is not a citizen or a legal resident of the , we are required to withhold federal taxes of 30 percent for any prize paid We are required Lottery winnings are not taxed twice Under both the federal and state tax system, they are considered ordinary taxable income You pay tax on your winnings