Lottery Winnings

website how to pay taxes on lottery winnings Yes Gamblinglottery winnings are subject to Michigan individual income tax to the extent that they are included in your adjusted gross income The Michigan how to retrieve my dv lottery confirmation number Lottery winnings are considered ordinary taxable income for both federal and state tax purposes That means your winnings are taxed the same as your wages or

how to pay taxes on lottery winnings Section 194B of the Income Tax Act requires 30% TDS on lottery & game show winnings over Rs 10000, with an effective tax rate of %,  As per section 115BB of the Income-tax Act,1961, the entire income from winning lotteries, games show, etc will attract tax at the rate of  Income tax · Personal Income earned on any of the above amounts is taxable

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