Do you need to pay tax on lottery winnings?

how much taxes on lottery winnings
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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

Generally, if someone wins a raffle, Lotto or prize money in a draw, these winnings are not taxable Similarly, prize money from a dog 30% of lottery winnings are subject to income tax Surcharge equals 15% of the income taxes paid if the amount is greater than one billion, one

31 lottery sambad As per Section 194B of The Income-tax Act, 1961, if the prize money exceeds ₹10,000, then the winner will get the prize money after the Hit the jackpot? Learn how your lottery winnings are taxed Discover key strategies to manage your windfall and financial obligations