What is Tax on Kerala Lottery Prize Money?

lottery prize tax
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While you don't have to report lottery winnings of $600 or less, if you win more than $5,000, the government will hit you with a 24 percent federal withholding

One ticket can win only the highest prize awarded on it Income Tax and Surcharge etc if any, will be deducted at source from the prize money as laid down in

lottery result 26 12 23 Federal income tax must be withheld from lottery prizes in excess of five thousand dollars lottery game prize as elected by a prize winner For

lottery maker Levying a 30 percent tax on small prizes would drastically affect the lottery in the State The lottery scheme is already undergoing a severe