The IT department loves it when you win a lottery or when

how much is the lottery taxed
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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

When you begin selling those investments and making profit, you might have to pay tax The rate you'll pay is either 10% or 20% It's 10% if you are a basic According to estimates from , the winner of the publicized $ billion jackpot would earn $280,885,562, if they take the lump sum

national lottery euromillions draw history According to the 1986 Finance Act as well as the Income Tax Act, lottery wins in India are subject to a fixed 30% tax rate When earnings exceed According to estimates from , the winner of the publicized $ billion Powerball jackpot would earn $329,792,812, if they take the