Won a lottery or prize money in India? Here's what you need to know

how much tax is on lottery winnings
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Federal lottery taxes Winning the lottery could push you into a higher tax bracket, and the highest bracket is 37% if you make over $518,400 in

30% of lottery winnings are subject to income tax Surcharge equals 15% of the income taxes paid if the amount is greater than one billion, one

how to claim lottery winnings anonymously The tax is usually deducted at source by the lottery distributor before you receive the payout 2 Can lottery winnings be legally shared

how old to buy lottery tickets Summary Lottery winnings are tax-free at the point of receiving them You could pay savings tax on interest earned or your estate could be subject to