Lottery Winnings: How much tax? How much can I give to family?

How Taxes on Lottery Winnings Work are lottery winnings taxed Lottery winnings are taxable in India under the Finance Act of 1986 and Income Tax Act at a flat 30% rate There is an extra percentage are lottery winnings considered income California, unlike some other states, does not levy income tax on lottery tickets purchased within its borders However, this doesn't mean

are lottery winnings taxable If you sell or otherwise dispose of an asset that was a prize from a lottery, you must declare any capital gains you make in your tax return You must declare