In India, lottery winnings are subject to taxation under the Income Tax Act. If you win a lottery in India, you are required to pay tax on the prize money.
The tax rate for lottery winnings in India is 30% plus applicable cess and surcharge. This tax is deducted at source （TDS） by the lottery operator before paying out the prize money to the winner.
It is important to note that lottery winnings are considered as income from other sources and must be declared in your income tax return. Failure to do so may result in penalties and legal consequences.
Some states in India have their own lottery schemes, and the tax treatment may vary slightly. However, the basic principle of taxing lottery winnings remains the same across the country. |
