Is it true that you pay tax on lottery wins

why are lottery winnings taxed
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Section 194B of the Income Tax Act requires 30% TDS on lottery & game show winnings over Rs 10000, with an effective tax rate of %,

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

why do lottery winners go broke Lottery and Gambling Winnings · 5% for Lottery payouts between $10,001 and $500,000; · 8% for Lottery payouts over $500,000; and · 8% for

why are lottery winnings taxed income tax treatment of lottery prizes This guidance applies specifically The lottery prize payment is gambling winnings taxed as ordinary income