Smart tax strategies for lottery winners - Tax Insider

Here's what you need to know about taxation and legal obligations Learn about tax obligations when winning a lottery or prize money in India

Winnings received are not taxable as they are windfalls and not considered as an income You do not need to declare the winnings in your Income

lottery sambad 31123 Tax Band 2: Any portion of the prize exceeding €5,000 is subject to a tax rate of 20% Romania

lottery ticket not claimed The payer will deduct 24% from your winnings on the spot if you win above a certain amount · You'll report your winnings and your tax payments when you file