Categories
BLOG

kerala lottery prize tax

PRICE CLAIM PROCEDURE OF KERALA LOTTERIES

There are many methods to claim the winning amounts of a Kerala lottery depending up on the prize amount. There are some paper works to claim the higher prizes of Kerala lotteries while it is very easy in the case of lower prizes of Kerala lotteries.

CLAIM PROCEDURE OF A KERALA LOTTERY WINNING

WHICH IS MORE THAN RS. 1 LAKH.
The Kerala lottery those win more than Rs. 1 Lakh shall be surrendered directly to the Office of Director of Kerala Lotteries, Thiruvananthapuram. The winner should affix his/her Signature, Name and Address on the provided space in the back side of the Kerala lottery ticket. More than this the below documents should be submitted.

1. Original winning Kerala lottery ticket with signature, Name, Address of the winner duly filled in the space provided.

2. A claim application form duly filled. (You can get the form of Kerala lottery claim application from Kerala lottery offices).

3. Two Passport size photographs of the prize-winner duly attested by a Gazetted Officer/Notary.

4. A receipt for the prize money in the prescribed form affixing a revenue stamp worth Rs.1/- with full address of the prize-winner.

5. If the prize winner is a minor, Guardianship certificate from a competent authority.

6. In case of joint claims, one of the prize-winners should be authorized to receive the prize money and a ‘Joint Declaration’ in stamp paper worth Rs. 50/- should be executed.

7. Self attested copy of the PAN Card.

8. Attested document to prove identity ( Attested copy of Ration Card, Driving License, Passport, Election ID Card etc) The prizes above can also be claimed through Nationalised, Scheduled or State/ District Co-Operative banks. The prize winning ticket should be surrendered to the bank with all the above documents, if necessary. The bank should submit the claim to the Director of State Lotteries with the following certificates:

A. The letter of Authorization from the prize-winner

B. The certificate from the receiving bank

C. The certificate from the collecting bank

CLAIM PROCEDURE OF A KERALA LOTTERY WINNING

WHICH IS Rs. 1 LAKH or LESS THAN Rs. 1 LAKH.

CLAIM PROCEDURE OF A KERALA LOTTERY WINNING

WHICH IS Rs. 1 LAKH or LESS THAN Rs. 1 LAKH.

CLAIM PROCEDURE OF A KERALA LOTTERY WINNING

WHICH IS Rs. 5,000/- or LESS THAN Rs. 5,000/-.

For prize moneys more than Rs. 10,000, income tax at prevailing rate will be deducted and credited into the central government account.

How to claim a winning Kerala lottery

Kerala state lotteries – types, tax, prizes, and prices

Kerala State Lotteries is a lottery program organised by the state government of Kerala.

Lottery is a type of gambling in India, in which tickets with different number combinations are purchased by participants, and numbers are drawn at random from a pool to announce the winners.

In this article, read about Kerala state lottery:

In the year 1967, when all the private lotteries were banned, the then Finance Minister of the state, P. K. Kunju Sahib, proposed the idea to set up a Lottery department under the Government of Kerala. The objective behind this was to generate employment and supplement the state’s revenue.

The Lottery department was earlier placed under the Department of FInance, but was later moved under the Department of Taxes.

After the success of this model, some other states in India also adopted it and launched their own state lotteries.

The Directorate of the department is located in Vikas Bhawan at Thiruvananthapuram. It has 14 district offices and a Regional Deputy Directorate at Ernakulam.

Types of Kerala State Lotteries

There are seven different types of weekly Kerala lottery draws conducted by Kerala State Lottery Department. They have different price and prize sturcutures.

Kerala state lottery Pournami has the first prize of Rs. 70 lakhs, the second prize of Rs. 5 Lakhs, the third prize of Rs. 1 Lakh, and a consolation prize of Rs. 8000. The price of a single ticket of the lottery is Rs. 30 and that of a book is Rs. 750. The draw for Pournami Kerala lotteries are held on Sunday.

Kerala lottery called Win Win has the first prize of Rs. 65 lakhs, the second prize of Rs. 10 Lakhs, the third prize of Rs. 1 Lakh and a consolation prize of Rs. 8000. The price of a single ticket of the lottery is Rs. 30 and that of a book is Rs. 750. The draw for Win Win Kerala lotteries are held on Monday.

Kerala state lottery Sthree Sakthi comes with the first prize of Rs. 60 lakhs, the second prize of Rs. 5 Lakhs, and a consolation prize of Rs. 8000. The price of a single ticket of Sthree Sakthi is Rs. 30 and that of a book is Rs. 750. The draw for Sthree Sakthi Kerala lotteries are held on Tuesday.

Akshaya Kerala lottery has the first prize of Rs. 60 lakhs, the second price is Rs. 50 lakhs, and the third price is Rs. 1 lakh. The consolation prize of the lottery is Rs. 8000. The price of s single ticket is Rs.30 and that of a book is Rs. 750. Kerala state lotteries Akshaya are drawn on Wednesday.

Karunya Plus Kerala lottery has the first prize of Rs. 80 lakhs. Its second prize is for Rs. 5 Lakhs and the third prize is for Rs. 1 Lakh. The consolation prize for Karunya lottery is Rs. 8000. The price of a single ticket of this lottery is Rs. 40 and that of a book is Rs. 1000. Karunya Plus Kerala lottery draw is held every Thursday.

Nirmal Kerala State lottery has the first prize of Rs. 60 lakhs. The second and third prizes for this lottery are Rs. 5 Lakhs and Rs. 1 Lakh, respectively. Its consolation prize is Rs. 8000. One can buy its single ticket for Rs. 30 and the entire book for Rs. 750. The draw for Nirmal Kerala lotteries is held on Friday.

Karunya Kerala state lotteries carry the first prize of Rs. 80 lakhs, the second prize of Rs. 10 Lakhs, the third prize of Rs. 1 Lakh, and a consolation prize of Rs. 8000. Participants can buy a single ticket for Rs. 40 and a full book for Rs. 1000. The draw for Kerala state lotteries Karunya is held on Saturday.

Besides the prizes mentioned above, there are other prizes ranging from Rs. 100 to Rs. 5000, for the above lotteries.

The state department also hosts festive Bumper lotteries like Xmas (for christmas), Vishu, Thiruvonam (for Onam) and Pooja (for Dussehra), and seasonal jackpots like Summer and Monsoon lotteries.

All the above kerala lotteries combined make for the biggest cash flow in the state.

Kerala State Lottery Results

The live kerala state lottery result is announced at 3 PM every day at Sree Chithira Home Auditorium, Thiruvananthapuram.

To check the lottery results online, one can visit www.keralalotteries.com, 4 pm onwards. The results are also published in Kerala Government Gazette.

For prize money less than Rs. 5000, one can claim the money from any lottery shop in the state after verifying the Kerala lottery numbers from the Gazette. For any amount above Rs. 5000, winners need to submit the winning lottery ticket at a bank or government lottery office with an ID proof, within 30 days of the draw. Read about the documents required to claim a prize.

To check the Kerala state lottery results today, participants can visit the Kerala State lottery website after 4 pm.

How much tax will you pay on winning a Kerala State lottery

If you win a Kerala state lottery, the prize money will be taxable under the head ‘Income from other Sources’.

When your winning is above Rs. 10,000, TDS of 30% will be automatically deducted from your earning under Section 194B of the Income Tax Act, 1961 and you will receive the balance, as per section 194B. The prize distributors are responsible to deduct this tax amount before giving any prize money to the winners.

One may note that no deduction under Sections 80C or 80D is allowed from this income.

Kerala state lotteries – types, tax, prizes, and prices Kerala State Lotteries is a lottery program organised by the state government of Kerala. Lottery is a type of gambling in India, in ]]>