Do you pay tax on lottery winnings?

How are Lottery Winnings Taxed? lottery tax free Winning, receiving a share of a win or being gifted money has no tax implications on the initial amount and does not need to be reported to us lottery sambad 21 02 24 Lottery winnings are taxable in India under the Finance Act of 1986 and Income Tax Act at a flat 30% rate There is an extra percentage

lottery season tickets US Mega Millions - Lottery prizes are subject to taxation at source There are three tax bands Tax Band 1: Tax-free up to $ Tax Band 2: Any prize