23VAC10-140-282 Withholding on lottery prizes

As per section 194B of the income tax act, all the winnings over and above Rs 10,000 will be subject to a TDS of 30% With cess and surcharge,

The federal government withholds 24% of your winnings immediately You may owe additional federal taxes depending on your overall tax bracket Each state also

lottery 01 06 64 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

lottery in kenya Income from lottery winnings and online games are included under the head 'Other source of Income' and is taxable at the special rate of 30%