What is the tax on 75 lakh lottery winnings in Kerala?

Over and above the Kerala lottery prize tax of 30%, and 4% cess will also be applicable. This brings the effective taxation rate to 31.2%. In the case of the winnings exceeding Rs. 10 lakh, an additional 10% surcharge is also applicable.Jun 11, 2024

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What is the tax on 75 lakh lottery winnings in Kerala?

Over and above the Kerala lottery prize tax of 30% and 4% cess will also be applicable. This brings the effective taxation rate to 31.2%. In the case of the winnings exceeding Rs. 10 lakh an additional 10% surcharge is also applicable.Jun 11 2024

Is lottery legal in India?

The legality of the lottery in India is a state-related affair. Under the Lotteries Regulation Act of 1988 the state governments have been authorised by the central government to make their laws related to the game. As a result some states have banned it and some still consider it legal.26‏/08‏/2024

Is lottery legal in India?

The legality of the lottery in India is a state-related affair. Under the Lotteries Regulation Act of 1988 the state governments have been authorised by the central government to make their laws related to the game. As a result some states have banned it and some still consider it legal.26‏/08‏/2024

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