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Here's what you need to know about taxes when you play to win in the following lotteries: There is a tax rate of 20% on lottery winnings exceeding the

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  With a large jackpot, if the winner opted for the lump sum cash value, they would be subject to federal income tax at the top tax rate, which is 37% (So after

punjab lottery holi bumper 2024 Income Tax Calculator to know the taxes to be paid for a given Income, deductions Compare Old vs New tax regimes for IT declaration with Lottery Tax Calculator helps you determine what you owe in taxes Know how lottery winnings are taxed? What is the tax rate for lottery? And more at TaxAct