30% tax on lottery wins of over Rs 10K a year

30% tax on lottery wins of over Rs 10K a year tax on winning lottery
➡️【Mk.com】✅भारत में ऑनलाइन रियल मनी कैसीनो ✅ उच्च सुरक्षा, अनुभवी लोगों द्वारा समीक्षा और चयन किए गए सर्वोत्तम गेम, कुछ ही मिनटों और दिनों में भुगतान प्राप्त करें ✅  The reward would be subject to tax according to Section 56 and reported under the title “Income from Other Sources ” The lottery winners are taxes lottery 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

taxes lottery That is unless your regular household income already places you in the top tax bracket prior to winning In that case, all of it is taxed at 37% This can be

tax calculator on lottery winnings Have you ever wondered about people who win money on game shows like Kaun Banega Crorepati, Bigg Boss, Indian Idol, etc , paying tax or not? Do Flat Tax Rate*: Lottery winnings are taxed at a flat rate of 30% under Section 115BB of the Income Tax Act Surcharge and Cess: In addition to