What is the tax on 1 crore lottery winnings in India?
Rate of TDS on Lottery Winnings Example: If you win ₹1 crore (₹1,00,00,000) in a lottery: Basic Tax Deduction: ₹1,00,00,000 × 0.30 = ₹30,00,000. Health and Education Cess: ₹30,00,000 × 0.04 = ₹1,20,000. Total TDS Deducted: ₹30,00,000 + ₹1,20,000 = ₹31,20,000.Sep 11, 2024
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