On winning a 1 crore lottery in India, how much taxes do you pay?
On winning a 1 crore lottery in India, how much taxes do you pay?
Lottery winnings 20,000 42,000 Gross Total Income 5,92,000 Less : Deduction us 80C 12,000 Total Income 5,80,000 Tax on Lottery winning # 20,000 @ 30% 6,000 Tax
Prizes that are given in a competition or contest are not taxable gambling or lottery winnings if no advantage or inequality in amount or value is offered or Any lottery prize of $600 or more shall be subject to Virginia income tax Winnings with the Lottery Department, or attach a statement to their
25 6 23 lottery result How are Lottery winnings taxed? All Lottery prizes, regardless of the amount, generally are considered as income by the state and federal government For In fact, lottery winnings are taxed, with the IRS taking up to 37% Curiously, though, only 24% is withheld and sent directly to the government
