Details on Taxes For Lottery Winnings In India

income from winning of lottery is taxable under
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Taxation is imposed upon all income sources You may think that lottery winning would not be considered as an income source, but it is counted

The prize money so distributed falls within the meaning of “winning from any card game and other game of any sort” and therefore, under

income tax slot If you win the lottery, the money you win becomes part of your estate That means that if you pass away, whoever inherits your estate will have

income tax on lottery winnings Under the amended language, lottery winnings of $600 or more continue to Withholding is required for taxable winnings under c 62B only if the