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Step-by-Step Calculation Process for Lottery Tax Calculator · Federal Withholding: $10,000,000 * = $2,400,000 · Actual Winning Before Tax: $10,000,000 -

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lottery ticket free entry Flat Tax Rate*: Lottery winnings are taxed at a flat rate of 30% under Section 115BB of the Income Tax Act Surcharge and Cess: In addition to