Smart tax strategies for lottery winners - Tax Insider

website lottery after taxes Lottery winnings in India are not normally taxed as regular income; rather, they are subject to a fixed flat tax of 30% Section 194B of the lottery sambad 31 1 24 Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

lottery after taxes If the winner chooses the more popular lump sum option, the winnings would be reduced to $ million after a mandatory 24% federal tax  Tax Rate: Winning from lottery is taxable at a special rate of 30% No deduction is allowed Also no benefit of slab rate can be taken   after 1909 Exempt from all present and future taxes in Indo

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