On winning a 1 crore lottery in India, how much taxes do you pay?

do you pay tax if you win the lottery
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Win $500,000 or more for a single person

Section 194B of the Income Tax Act requires 30% TDS on lottery & game show winnings over Rs 10000, with an effective tax rate of %,

door slot lock Lottery winnings are subject to federal and sometimes state taxes If you win big, plan for the taxes ahead of time Updated May 24, 2024

doctor electro slot As previously mentioned, you have to pay federal income tax on lottery winnings Right off the bat, lottery winnings over $5,000 are subject to