How much tax will pay on winning a Rs 1 Crore lottery in India?

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Withholding Tax Go to next level Withholding Tax; Withholding Tax How much gambling duties has IRAS collected? Please refer to

Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that

vt lottery gimme 5 All winnings over $5,000 are subject to tax withholding by lottery agencies at the rate of 24% This potentially leaves a gap between the However, that's not all Lottery winnings also count as income, so by winning the jackpot, the ticketholder has been pushed into the 37% tax