Income Tax On Lottery Money: If You Win, How Much Tax Govt Will Deduct?
[ad_1] The money received is taxable under the heading Income from Other Sources. (Representative image) The provisions governing the Income-tax are covered in the Income-tax Act, 1961. In India, prize money and lottery winnings are subject to tax under the Income Tax Act, 1961. The tax rate on prize money and lottery winnings is 30% … Read more