How much tax has to be paid on lottery or game show prize money?
How much tax has to be paid on lottery or game show prize money?
As per section 115BB of the Income-tax Act,1961, the entire income from winning lotteries, games show, etc will attract tax at the rate of
However, winning the prize requires you to pay taxes on your winnings If you win Rs 10 lakh, you will have to pay a 30% tax on lottery Gambling winnings, including winnings from the Minnesota State Lottery and other lotteries, are subject to federal and Minnesota income
juegos de poker gratis sin descargar ni registrarse Shareholders, partners, or members in pass-through entities receiving income from gambling or lottery activities are subject to personal income tax on their Federal lottery taxes are determined by the income bracket the winnings fall into Currently the two highest income brackets are taxed at 37%
