Income Tax Law & Practice - Assessment Year 2022-23

Do You Need to Pay Tax on Lottery Winnings? tax on lottery winnings india
➡️【Mk.com】✅Immerse yourself in the world of old-fashioned games such as roulette✅, blackjack, poker and slot machines in the atmosphere of the Belle Époque. ✅  lottery across India GST@12% is levied Differential tax rates for lottery run by State Governments and lottery authorized by State tax calculator for lottery winnings The first prize in any lottery scheme shall not be less than ten thousand tax on prizes, wherever applicable, is deducted at source and

tax in lottery winnings Income tax of 30% is deducted on all prizes above Rs 10,000 Thus, a person winning Rs 1 lakh will have a net earning of Rs 61,600 Tickets