The way Lottery Winnings are Taxed in India -

what is the tax percentage on lottery winnings
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rate of five percent plus surcharge Winnings are taxable in the year the taxpayer receives or has a right to receive the money Example: A

The Minister further stated that vide Finance Act 2023, the rate in force is 30% This also includes winnings in kind or partly in cash and 30% tax is applied to prizes and awards that have not received government approval The tax rate would also need to be increased by cess The

kerala lottery result 23 9 2023 The lottery tax is charged at a rate of 15% of the lottery turnover When is the lottery tax paid? The lottery tax must be However, winning the prize requires you to pay taxes on your winnings If you win Rs 10 lakh, you will have to pay a 30% tax on lottery