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

if u win the lottery how much is taxed
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Winnings received are not taxable as they are windfalls and not considered as an income You do not need to declare the winnings in your Income

A Amount to be withheld The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of According to the 1986 Finance Act as well as the Income Tax Act, lottery wins in India are subject to a fixed 30% tax rate When earnings exceed

international lottery app The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that How winnings are reported to the IRS: Form W-2G · $600 or more if the amount is at least 300 times the wager (the payer has the option to reduce the winnings by