Section 194B & 194BB

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The governing lottery body withholds 24% of the prize automatically, leaving the balance to be paid by the winner, according to Lottery USA If

Amounts won from a game show or lottery are taxable under Section 56 of the Income Tax Act, 1961 According to Section 194B winnings from lotteries, whether the Government is aware that the State of Kerala has fixed a Goods and Services Tax rate

tango lottery result Tax treatment of winnings Winnings received are not taxable as they are windfalls and not considered as an income You do not need to declare How do lottery taxes work? ; 10% $0 to $11,600 10% of taxable income ; 12% $11,601 to $47,150 $1,160 plus 12% of the amount over $11,600 ; 22