What is the Tax for Lottery Winnings Prize in Kerala? TDS

lottery money tax   Dan lottery sambad 10224

As per the Income Tax rules, money won in a lottery or any competition is taxable You will have to pay a flat 30 per cent of the winning amount

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 Section 194B of Income Tax Act, 1961 states that winnings from lotteries, game shows, card games, online games, crossword puzzles, quiz shows,

check instant lottery tickets online Income from lottery winnings and online games are included under the head 'Other source of Income' and is taxable at the special rate of 30% No, there is a flat tax of % applied to winners They are not subject to the individual's tax slab rate 3 When will prizes no longer be