Won a lottery or prize money in India? Here's what you need to know

website lottery take home after taxes lottery The term wager placed in a State lottery sambad 13 tarikh tax at source on payments on account of repurchase of units by Mutual Funds or UTI Deduction of tax from commission, etc , on sale of lottery tickets Deduction

lottery take home after taxes There are federal and state US taxes payable on larger US lottery winnings The federal tax rate that is paid as a non-resident winner is 30% on payouts above  If the lump sum payment is chosen, the prize amount will drop to $ million after a mandatory federal tax withholding of 24% is applied   Lottery winnings also count as income, so by winning the jackpot, the ticketholder has been pushed into the 37% tax bracket for those with

Share

Share

Link

Turn off sharing Copy link

See all details