Won Rs 1 crore, Rs 1 lakh or Rs 1000 from lottery, competition

how much tax do you have to pay on lottery winnings
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how much tax do you have to pay on lottery winnings Unlike salary or professional income where people are allowed to take deductions or allowance, winnings from contests are fully taxable This is  The following rules apply to casual gamblers who aren't in the trade or business of gambling Gambling winnings are fully taxable and you must report the  In the case of winnings from horse races, income is taxable at % without any exemption limit · There would be no deduction of any

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