In Kerala, India, the lottery system is a popular form of gambling regulated by the state government. When a person wins a substantial prize, such as 12 crore rupees, they are subject to specific tax regulations.
The taxation on lottery winnings in Kerala includes a 30% tax deduction at source （TDS） under Section 194B of the Income Tax Act for prizes exceeding Rs. 10,000. Additionally, winners may need to pay state-specific taxes, and the prize money is often distributed after deducting these taxes.
It is essential for winners to understand the tax implications and consult with financial advisors to manage their winnings effectively and comply with Indian tax laws. |
