Prize money won in lucky draw wouldn't amount to lottery income: ITAT

lottery income tax rate
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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

The tax on lottery winnings, crossword puzzles, card games, etc is a flat rate of 30% After adding the health and education cess of 4%, the The Connecticut Lottery Corporation will withhold Connecticut income tax at the rate of 5% from all payments of reportable Connecticut lottery winnings made

tickets lottery Connecticut state income tax is required on all CT Lottery winnings regardless of state residency  This reclassification would place earnings from these derivatives in the same tax category as lottery winnings or cryptocurrency investments,