How Taxes on Lottery Winnings Work
How Taxes on Lottery Winnings Work
how much of lottery winnings is taxed
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A: The Lottery Winnings Tax is only charged on cash prizes Q: Who is charged the Lottery Winnings Tax ? A: All persons who receive more than
According to Section 194B of the IT Act, 1961, a tax rate of 30% is applicable on lottery winnings exceeding Rs 10,000 This is treated
how much is the lottery worth Q- How much tax is paid for a 5 crore lottery? The entire amount received will be taxable at the flat rate of % The award winner would
how much is the lottery right now In India, lottery winnings are subject to a tax deduction at source of 30% if the amount of the winning exceeds Rs 10,000 Therefore, if