An an Indan Citizen, What if you win 1 Billion Lottery grand jackpot

An an Indan Citizen, What if you win 1 Billion Lottery grand jackpot do you pay tax on a lottery win Congratulations! You're a lottery winner Now you're probably wondering, is my prize taxable? In Australia, lottery winnings are classified as tax-free double jackpot gems slot machine The tax is usually deducted at source by the lottery distributor before you receive the payout 2 Can lottery winnings be legally shared

double jackpot gems slot machine The winning amount is tax free, however you will be charged when you put it in the bank or when inheritance tax is charged

dot slot auction Section 194B of the Income Tax Act requires 30% TDS on lottery & game show winnings over Rs 10000, with an effective tax rate of %, Lottery prizes get taxed under the same rules as regular income tax Whatever prize money you receive during the year is added to your taxable