What is the Tax for Lottery Winnings Prize in Kerala? TDS

how much tax is taken from lottery winnings
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Before the winner receives any of the money, however, the IRS automatically takes 24% of the winnings The rest of the winnings are expected to be paid by the

You'll also likely find yourself in the top federal tax bracket of 37% (remember, these rates are progressive, so you won't actually lose 37% of 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

ok google new york lottery That's because lottery winnings are generally taxed as ordinary income at the federal and state levels In fact Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax