Verification rules and prize payments, exceptions

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The TDS of % is a flat tax on the winning amount; it will not be added to your income and you will not be able to benefit from your income tax rate slab

income tax treatment of lottery prizes This guidance applies specifically The lottery prize payment is gambling winnings taxed as ordinary income  As per Section 194B of The Income-tax Act, 1961, if the prize money exceeds ₹10,000, then the winner will get the prize money after the

蓬萊仙山天生麗質 Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket, Section 194B of the Income Tax Act applies to TDS deductions from the income earned from winning the lotteries Learn about deductions, penalties, and more