If I won a lottery of 20 crore, how much will I get after tax deduction

how much do you get taxed on lottery winnings   Dan how slot machine work

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

Lottery prizes get taxed under the same rules as regular income tax Whatever prize money you receive during the year is added to your taxable The winning amount is tax free, however you will be charged when you put it in the bank or when inheritance tax is charged

15_12_23 kerala lottery result Legally classed as gambling, any profits you make from buying a lottery a ticket are exempt from tax, so the full amount you win is the amount paid to How much of a prize is taken out for taxes? The winnings are subject to federal income tax withholding The tax withholding