Income tax and lottery winners: This is the treatment by the taxman

tax for lottery in india
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Every student who takes part in the competition gets a chance to win Rs 10 lakh However, winning the prize requires you to pay

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

taxes on $1 million dollars lottery winnings Lottery winnings are taxable in India under the Finance Act of 1986 and Income Tax Act at a flat 30% rate There is an extra percentage

taxes on slot machine winnings lottery · Revised Annexure V to agenda item 6 of the DAN Vol 2 of make in india