How much tax has to be paid on lottery or game show prize money?

tax rate on lottery winnings in india
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tax rate on lottery winnings in india As per the Income Tax rules, money won in a lottery or any competition is taxable You will have to pay a flat 30 per cent of the winning amount  taxable in the year of receipt of compensation or part thereof Expenses of purchasing lottery tickets are deducted out of winning from lottery under  RBI Floating Rate Savings Bonds 2020 · Mutual Funds · InvestNow Remittance out of lottery winnings b) Remittance of income from racing

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