The Income Tax Act's Section 194B, which requires a specific percentage to be withheld at the source prior to awarding the prize money, taxes lottery winnings in India. Taludo money.comking care of newly acquired wealth and making sure taxes are paid. For advice on how to handle their newfound wealth & guarantee compliance with tax laws, winners should speak with financial advisors or tax specialists. Winners can navigate any complications that may arise while enjoying their success if they are well-informed and prepared.