GOODS AND SERVICES TAX ON LOTTERY IN INDIA

tax on lottery winnings india
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Time Limit: You have 30 days from the result declaration date to claim your prize Unclaimed prizes are forfeited Taxes: Winnings above ₹

Income tax of 30% is deducted on all prizes above Rs 10,000 Thus, a person winning Rs 1 lakh will have a net earning of Rs 61,600 Tickets

taxes on 1 million dollars lottery winnings Income from winnings of a lottery, horse race, gambling, etc under 4 Whether any tax paid outside India, on which tax relief was

tax slot According to the Income Tax Act, 1961, any income by way of winnings from any lottery, crossword puzzle, card game, or other game of any sort is taxable under