What is the Tax for Lottery Winnings Prize in Kerala? TDS
What is the Tax for Lottery Winnings Prize in Kerala? TDS
Still, you'll probably owe more when taxes are due since the top federal tax rate is 37% So a good first step a lottery winner could take is to
As per the Income Tax rules, money won in a lottery or any competition is taxable You will have to pay a flat 30 per cent of the winning amount Winnings from lottery are flat taxable at the rate of 30% under income tax act, 1961 The basic exemption limit is not available in case of
kerala lottery result w 733 While you don't have to report lottery winnings of $600 or less, if you win more than $5,000, the government will hit you with a 24 percent federal withholding Well now you have to report your prize to the IRS via Form W-2G The IRS charges a flat rate of 24% on all lottery winnings over $5,000 For
