What is Tax on Kerala Lottery Prize Money?

Lottery winnings are considered taxable income for both federal and state taxes · Federal tax rates vary based on your tax bracket, with rates up to 37%

Introduction : In the context of the Income Tax Act of 1961 in India, “winnings” typically refer to income earned through activities such as

income tax on lottery winnings in india In India, winnings from the lottery are liable to a flat rate of tax at 30% plus 4% Cess without any basic exemption limit Further, If the Prize money

income tax on lottery Income from a house property located outside India is: Taxable Income from other sources- Gross winning of lottery 100 11,200× 70 ` 16,000