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

what is tax on lottery winnings
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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

Matching tickets are purchased in Spain There is a tax rate of 20% on lottery winnings exceeding the equivalent of €40,000 So why play international lotteries Since the tax withholding rate on lottery winnings is only 24%, some lottery winners do not plan ahead, and can have trouble paying their

nama slot gacor hari ini The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes While you don't have to report lottery winnings of $600 or less, if you win more than $5,000, the government will hit you with a 24 percent federal withholding