Types of Taxes

winning from lottery is taxable under which head of income   Dan winning powerball ticket sold in sun valley

b) The salary of is taxable under the head 'Salaries' c) Expenses on purchasing lottery tickets are deducted out of lottery income d) Loss from lottery

Taxable winnings Like all other taxable income, the IRS requires you to report prizes and winnings on your tax return, too That means you b) The salary of is taxable under the head 'Salaries' c) Expenses on purchasing lottery tickets are deducted out of lottery income d) Loss from lottery

h1b registration deadline 2024 Winnings from lotteries income of a person for taxation purposes Winnings from such sources fall under the head 'Income from other sources'  How to report gambling income All gambling winnings are taxable including, but not limited to, winnings from lotteries, raffles,