Won a lottery or prize money in India? Here's what you need to know

How are Lottery Winnings Taxed? income tax on lottery You don't have to win the big jackpot to owe lottery taxes Your winnings are considered taxable and are added to your ordinary income when income tax on lottery winnings in india This section levies a flat tax rate of 30% in addition to 4% Cess, which comes to % Lets have a look at Income Tax on winnings from

income tax on lottery winnings Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no