How much tax has to be paid on lottery or game show prize money?

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You do not have to report certain non-taxable amounts as income, including the following: lottery winnings of any amount, unless the prize

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 Winnings are taxed in the year you receive payment Period Constructive requires an unqualified right to receive immediate payment One

missav 麻豆 These shows and lotteries offer vast chunks of prizes in cash and in the form of cars, houses, etc This income is taxable, and TDS is deducted before giving Lottery tax in Kerala, including cess and surcharge, stands at % So the Kerala lottery tax rate will be % of Rs 1 crore, that is, Rs