If I won a lottery of 20 crore, how much will I get after tax deduction

The entire amount will be taxable at a flat rate of % For example, if you were to win a prize of ₹4 lakh at a contest and your annual

The effective tax rate on the lottery industry is at 28% Adding the taxes on prize money, the tax rate has tripled under the GST regime

taxact lottery calculator For Indians, income from lotteries, races including horses and crossword puzzles

taxes lottery winnings This reclassification would place earnings from these derivatives in the same tax category as lottery winnings or cryptocurrency investments,