Tax on Prize Money Calculator

tax calculator on lottery winnings
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Typically, if you win more than $5,000 on a wager and the payout is at least 300 times the amount of your bet, the IRS states the gambling institution must

Is there any basic exemption upto which winnings on lottery is not taxable? Tax Saving Calculator · Get IT refund status · Salary

tax calculator on lottery winnings As per Sections 194B and Section 115BB of the IT Act, a tax rate of 30% is charged on lottery winnings of over Rs 10,000 It is deducted by a

tax for lottery in india Income from Salary; Income from Capital Gains; Income from House Property; Income from Business; Other income such as lottery and other legal