Lottery Winnings: How much tax? How much can I give to family?

website if u win the lottery how much is taxed you're not caught off guard by Uncle Sam's share What Happens When You Win The if i won the lottery i wouldn''t tell anyone meme If the income exceeds INR 10,000 during the financial year, the prize distributor is liable to deduct TDS at % when making the payment TDS

if u win the lottery how much is taxed Lottery winnings are charged at a flat 30% rate without tax brackets or exemptions If the income exceeds a specific amount a further surcharge  If you receive your winning in property or services, you will have to include the fair market value of your winnings on your tax return A Final Reminder About  If your winnings put you in a higher tax bracket, you will owe the difference between the withholding amount and your total tax You are allowed

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