GOODS AND SERVICES TAX ON LOTTERY IN INDIA

Besides the time-value-of-money discount rate, a lump-sum payout also results in federal tax of 37% on every dollar over $539,900

As per section 115BB of the Income-tax Act,1961, the entire income from winning lotteries, games show, etc will attract tax at the rate of

lottery 2019 The tax rate for winning from lotteries and game shows is %, including cess Out of this, a 30% tax is applied on winning the lottery and

lottery sambad 08 12 23 Lottery winnings that are more than $5,000 get a federal tax of 24%, therefore, you'll be cutting more than $12 million from the annual payments