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Amounts won from a game show or lottery are taxable under Section 56 of the Income Tax Act, 1961 According to Section 194B winnings from lotteries,

Hit the jackpot? Learn how your lottery winnings are taxed Discover key strategies to manage your windfall and financial obligations

taxes on poker tournament winnings A 20% tax is applied to winnings that exceed the equivalent of €500 The Lottery Office will pay you the exact amount of after-tax winnings collected from the

taxes on $2 million dollars lottery winnings In India, lottery winnings are subject to a tax deduction at source of 30% if the amount of the winning exceeds Rs 10,000 Therefore, if