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

taxable if they were taxable to you They must be reported on the Other Income line of Form IT-205, Fiduciary Income Tax Return; Form IT-201, Resident

Won a lottery or prize money in India? Here's what you need to know While lottery winnings aren't taxable, you may be subject to taxes once you've deposited the funds or if you give any winnings as a gift Let's

taxable if they were taxable to you They must be reported on the Other Income line of Form IT-205, Fiduciary Income Tax Return; Form IT-201, Resident

if you win lottery what should you do Winning a lottery prize over $600 does get reported as taxable income, so do any research you need in order to make the best decision for your own financial

Are lottery tickets tax-deductible? Yes IRS rules for gambling losses apply to lottery tickets The cost of those tickets can be taken as an

if we won the lottery let''s spend it on hinge Depending on your filing status and the taxable income , you are subject to a 10-37% tax rate If your prize is over

As per Section 194B of The Income-tax Act, 1961, if the prize money exceeds ₹10,000, then the winner will get the prize money after the