How Much Lottery Tax You Need To Pay In India?

what is the lottery tax
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The governing lottery body withholds 24% of the prize automatically, leaving the balance to be paid by the winner, according to Lottery USA

The reward would be subject to tax according to Section 56 and reported under the title “Income from Other Sources ” The lottery winners are income tax if the prize payment is includable in your federal adjusted gross income for the tax year If you are a resident of New York City or Yonkers, the

big888 slot Share Your Winnings A first thing you want to do Maybe If you plan to share your winnings with heirs, gift an interest in your lottery ticket New Yorkers, for example, could see their winnings taxed at up to % or more, depending on where in the state they live Only a few states —