if i win a lottery or prize money in a competition am i required to pay

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If your amount is higher, you might have to pay almost 40% as inheritance tax Is Lotto winning tax free? The winning amount is tax

To sum it up, the actual winning amount or value is subject to a 30% TDS rate under Section 194B The relevant tax that is withheld at source This calculator can help you make that decision It calculates how much money you would receive from a lump cash sum or an annuity payout after

today''s thangam lottery today result Crypto Calculator Estimate capital gains, losses, and taxes for cryptocurrency sales Get started Self-Employed Tax Deductions Calculator  The winnings are subject to a flat tax rate of 30% without any deductions The tax is usually deducted at