Income Tax on Winning Lottery, Game Shows, Awards, and Prizes

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Income from Salary; Income from Capital Gains; Income from House Property; Income from Business; Other income such as lottery and other legal

SGEEA levies a surcharge on lottery winnings The surcharge rate depends on the size of the prize For example, the surcharge rate for a cash This section levies a flat tax rate of 30% in addition to 4% Cess, which comes to % Lets have a look at Income Tax on winnings from

mega jackpot slot online This means that the entire amount of the winnings is taxable at the rate of 30% without any deductions or exemptions Tax Collection at Source ( Tax Act: Know how much tax may be saved Lottery-like