If I won a lottery of 20 crore, how much will I get after tax deduction

lottery tax india
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Lottery & Other Types of Winnings, 194B, 30% Payment to What is Form 12BB? Read More banner image All About Tax Structure In India Read More banner image

Tax Rate on winning lottery, puzzle, game show, horse race The tax on lottery winnings, crossword puzzles, card games, etc is a flat rate of Lottery is an act of betting and gambling and the power to enact law for imposition of tax on lotteries has to be construed as inherent in the expression of '

angle slot Lottery winnings in India are subject to a flat 30% tax rate This means that if you won 20 crore, you would have to pay 6 crore as tax, Under income tax law, a 30% TDS is to be levied on winnings from lotteries, game shows, card games, online games provided the earnings exceed Rs