GOODS AND SERVICES TAX ON LOTTERY IN INDIA

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No Under Section 58, no tax exemption or deduction can be availed by the person winning cash or assets as prize from a game show, lottery

After deduction of 10 per cent agent commission and 30 per cent tax, the prize winner will have Rs crore in bank account But that is just The winning amount is tax free, however you will be charged when you put it in the bank or when inheritance tax is charged

lottery sambad 6 11 23 8pm Some states have no income tax or don't tax lottery winnings, but Sign up for free newsletters and get more CNBC delivered to your inbox  But for other state lotteries, you'll be taxed at your ordinary income tax rate Most states that impose taxes on your winnings require some money for those