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In India, the international lottery tax is a significant aspect of the local taxation system for lottery products. The government imposes taxes on winnings from international lotteries, which are regulated under the Income Tax Act. Winners must declare such income and pay taxes as per the applicable slabs. This ensures compliance with local laws and supports public revenue.
Additionally, the sale of international lottery tickets in India is subject to GST, making it essential for sellers and buyers to understand the tax implications. Proper documentation and reporting are crucial to avoid penalties. |
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