Smart tax strategies for lottery winners - Tax Insider
Smart tax strategies for lottery winners - Tax Insider
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Q: Are lottery prizes subject to taxation? A: Effective August 13th 2018, lottery winnings are subject to taxation ; Q: What is the rate of tax? A: Ten percent Income Tax TDS Rates Applicable for NRIs ; Payment of accumulated balance of provident fund 10% ; Income received from winnings lotteries,
123auto slot lottery winnings or income from racehorses) ITR 2A It is applicable to Individuals and Hindu Undivided Family not having income from business or profession While lottery winnings aren't taxable, you may be subject to taxes once you've deposited the funds or if you give any winnings as a gift Let's
