Do you need to pay tax on lottery winnings?

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The TDS of % is a flat tax on the winning amount; it will not be added to your income and you will not be able to benefit from your income tax rate slab

lottery check The tax withholding rate is 24% for lottery winnings, less the wager, for prizes greater than $5,000 An example of the calculation used to determine whether a

lottery fax lottery sambad Section 194B of the Income Tax Act applies to TDS deductions from the income earned from winning the lotteries Learn about deductions, penalties, and more