What Is the Tax Rate for Lottery Winnings? - Money

tax rate for lottery winnings
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The tax rate applicable on such winnings under Section 115BB is a flat 30% This means that irrespective of the amount of the winnings, the tax

As per section 115BB of the Income-tax Act,1961, the entire income from winning lotteries, games show, etc will attract tax at the rate of

taxes on lottery winnings canada 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

tax on lottery winnings california 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,