Taxes on Prize Winnings and More!

how much taxes deducted from lottery
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While filing the income tax return, the prize money won must be disclosed under 'income from other sources ' the winner of the lottery must also

According to Section 194B of the IT Act, 1961, a tax rate of 30% is applicable on lottery winnings exceeding Rs 10,000 This is treated 1 Dividend received from shares and MF is taxable; Here's how to reduce your tax outgo from dividend income in your ITR image0 2

pakde4d slot A 30 per cent tax deducted at source will be levied on those who receive prizes above Rs 10,000 multiple times a year In the initial California lottery We do not tax California Lottery or Mega millions Visit Schedule CA Instruction 3s for more information How to report