On winning a 1 crore lottery in India, how much taxes do you pay?

how much are lottery winnings taxed   Dan how many people do you need to play poker

Lottery winnings that are more than $5,000 get a federal tax of 24%, therefore, you'll be cutting more than $12 million from the annual payments

Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket, How much tax on prize money is paid for winnings in India? Lottery wins are subject to a 30% TDS rate

michigan lottery tax calculator Then you will have to pay tax on ₹4 lakh at the rate of % while your income will be taxed at the relevant slab rate after deducting 1 Taxable Income: Lottery winnings are considered taxable income by the irs, and you must report them on your tax return If you win more than