Tax on Lottery Winnings in India Section 194B of IT Act

Tax on Lottery Winnings in India Section 194B of IT Act how much do you get taxed on lottery winnings Since the tax withholding rate on lottery winnings is only 24%, some lottery winners do not plan ahead, and can have trouble paying their taxes how to play thai lottery US lottery taxes differ from other countries because winnings are considered taxable income for both federal and possibly state taxes The federal government

how to play thai lottery Whoever wins a Mega Millions jackpot will still take home a good chunk of change, but they can say goodbye to at least 24% of their winnings right away

how can you win the lottery You don't pay tax on your lottery winnings, and any money gifted to family and friends is free of tax The only tax you or the gift recipients Before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000, CNBC explains Out