Mega Millions lottery winnings: How much do you make after taxes?

If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% If you didn't give the payer your tax ID number, the withholding

Have you ever wondered about people who win money on game shows like Kaun Banega Crorepati, Bigg Boss, Indian Idol, etc , paying tax or not? Do

tax rate on lottery winnings Under the provision of section 194B of the IT Act, 1961 the TDS rate for any income earned by way of winnings from crossword puzzles, lotteries,

tax calculator on lottery winnings Income Tax on winning from Lottery Crossword Puzzles Games shows & Race Horses etc will be taxable under the head “Income from Other Sources”