Here's the tax bill for the winning $ Mega Millions ticket

how is the lottery taxed
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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

The basic tax rate throughout India for lottery winnings is 30 percent The rate is specific for the taxation of lottery winnings The tax rate Winnings are taxed the same as wages or salaries are, and the total amount the winner receives must be reported on their tax return each year Before the winner

09_10_23 lottery result According to estimates from , the winner of the publicized $ billion jackpot would earn $280,885,562, if they take the lump sum 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