Income Tax On Lottery Winnings And Game Show Winnings In India

Lottery Winnings federal tax rate for lottery winnings Not all states tax for lottery winnings, Federal does though Federal is entitled to 28% under 500k Over 500k they can take up to like 38% For federal lottery tax But remember, the federal tax brackets are marginal brackets, and you won't pay 37% on all your winnings You only pay the 37% rate on each

federal lottery tax calculator The TDS of % is a flat tax on the winning amount; it will not be added to your income and you will not be able to benefit from your income tax rate slab