30% tax on lottery wins of over Rs 10K a year

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

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

100 ka lottery Lottery: In a bid to raise Goods and Services Tax revenue collection, the Finance Ministry has decided to introduce a massive campaign

123 free solitare Introduction and Tax Rates: The new tax regime, effective from April 1 Rs 1 Crore to 10 Crores: 2%; Above Rs 10 Crore: 5%; Health & Education Cess