Income Tax on Awards & Prizes

Winnings from lottery are flat taxable at the rate of 30% under income tax act, 1961 The basic exemption limit is not available in case of

Lottery winnings are considered taxable income Besides the upfront withholding, your total federal tax rate could be higher—up to 37% If you

what was the lottery number yesterday In Texas, how taxable are lottery and out-of-state casino winnings? All gambling winners are required to fill out a W-2G Form to report winnings

what to do if you hit the lottery The top federal tax rate is 37% for income over $500,000 The first thing that happens when you turn in that winning ticket is that the federal