Income Tax Calculator Lottery Winnings

taxes are shown as a fixed-rate calculation In states that calculate tax with graduated rates this results in our chart showing a slightly higher tax

Income from lottery winnings and online games are included under the head 'Other source of Income' and is taxable at the special rate of 30%

lottery florida archives Yes, such winnings are liable to flat rate of tax at 30% without any basic exemption limit In such a case the payer of prize money will generally deduct

lottery rsults Flat Tax Rate*: Lottery winnings are taxed at a flat rate of 30% under Section 115BB of the Income Tax Act Surcharge and Cess: In addition to