does lottery money get taxed
Why do we pay taxes on lottery winnings if the money people use to
does lottery money get taxed
website does lottery money get taxed US lottery taxes differ from other countries because winnings are considered taxable income for both federal and possibly state taxes The federal government does 711 sell lottery tickets lotteries, the tax you will have to pay may surprise you As per the Income Tax rules, money won in a lottery or any competition is taxable
does lottery money get taxed 21 November 2022 Being NRI, if he won lottery in any foreign country, where the tax been paid over the winning amount, he is not liable to pay Any income received as prize money from a lottery is taxed under the head 'Income from Other Sources' As per Section 115BB, when a taxpayer's The tax must be withheld by the Lottery Department on the date of actual or constructive payment, whichever is earlier, as defined in federal Treasury
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