1 Crore Kerala Lottery After Tax

deltin33 • 3 hour(s) ago • views 448

The Kerala State Lotteries is one of the most popular lottery systems in India, offering various prize amounts including the coveted 1 crore prize. When a winner receives 1 crore rupees in Kerala lottery winnings, it\“s important to understand the tax implications under Indian tax laws.

According to current Indian taxation rules, lottery winnings are subject to Tax Deducted at Source （TDS） at 30% under Section 194B of the Income Tax Act. This means that for a 1 crore prize, approximately 30 lakh rupees would be deducted as TDS, leaving the winner with around 70 lakh rupees after the initial tax deduction.

However, winners should be aware that this amount may be subject to additional income tax based on their total annual income and tax slab. The lottery winnings are considered income from other sources and must be declared in the income tax return. Winners may need to consult with tax professionals to ensure proper tax planning and compliance with Indian tax regulations.

The Kerala lottery department follows a transparent process for prize distribution and tax deduction, making it one of the most trusted lottery systems in the country. Winners receive proper documentation for the tax deducted, which can be used for filing income tax returns.