Won Rs 1 crore, Rs 1 lakh or Rs 1000 from lottery, competition
The TDS of % is a flat tax on the winning amount; it will not be added to your income and you will not be able to benefit from your income tax rate slab
Savings Account Interest Rate Online in India tax rate on lottery winnings in india
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& :- At present, there are two rates of GST on lottery across India GST@12% is levied on lottery run by state government and GST@28% is
tax rate for lottery winnings IT Act, 1961 governs taxation in India As per Sections 194B and Section 115BB of the IT Act, a tax rate of 30% is charged on lottery winnings