UNIT 16 ASSESSMENT OF INDIVIDUALS

UNIT 16 ASSESSMENT OF INDIVIDUALS winning from lottery is taxable under which head of income
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winning numbers for ny lottery Since he falls under the old tax regime, he first needs to calculate his taxable income After making the eligible deductions, his taxable income works out to

winning a lottery lottery winnings, including cash prizes from the Pennsylvania Lottery Noncash prizes from the PA Lottery are not taxed A loss in one class of income may Income that is not taxable You will not have to pay tax on: lottery winnings and other prizes; some government grants and payments; child support; the tax-free