TDS and Income Tax rates on winnings from Lottery and Game Shows

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Income tax is a tax that is levied by the Government of India on the income of every individual or entity The Income-tax Act, 1961 governs

In the sphere of non-resident income tax, prizes won by taxpayers without there being permanent establishment may only be taxed through this Rules for Income Tax on Lottery Winnings or Game Show Income · In the case of winnings from horse races, income is taxable at % without any

point of view of the lottery INCOME TAX ASSESSMENT ACT 1936 - SECT 26AJ Investment On the state side, most states treat lottery winnings as income for tax purposes and the tax rates vary by state But the jackpot winner's state taxes could