What is Tax on Kerala Lottery Prize Money?

income from lottery
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So after subtracting the cost of your ticket, you will owe federal income taxes on what remains How much exactly depends on your tax bracket,

Gambling winnings are fully taxable and you must report the income on your tax return Gambling income includes but isn't limited to winnings from lotteries,

income tax slot Answer: Lottery payments are subject to tax as ordinary income While there lottery earnings will be paid if the payment is made at one time For

income tax on lottery winnings in india In this case the Bombay High Court held that prizes on unsold tickets cannot be considered as winnings from lotteries On these issues the Bombay High Court