23VAC10-140-282 Withholding on lottery prizes

23VAC10-140-282 Withholding on lottery prizes how much taxes are deducted from lottery winnings From the money paid for winnings from the lottery, crossword puzzles, card games, and other similar incomes, the payer should deduct 30% TDS if how to win on wheel of fortune slot machine As per Sections 194B and Section 115BB of the IT Act, a tax rate of 30% is charged on lottery winnings of over Rs 10,000 It is deducted by a

how to win on wheel of fortune slot machine Therefore, no tax is to be deducted where the amount of winning from each lottery, crossword puzzle, card game, etc does not exceed ₹ 10,000

how many people buy lottery tickets The current TDS rate on such winnings is 30%, with the total tax liability, including surcharge and cess, amounting to % Winning award As per section 115BB of the Income-tax Act,1961, the entire income from winning lotteries, games show, etc will attract tax at the rate of 30%