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Once you've won, it's critical to manage your newly acquired wealth. Experts in finance frequently adv100 spinise making a thorough plan that takes long-term investing into account along with budgeting for current needs. Since many jurisdictions tax lottery winnings, it is advisable to set aside money for taxes.

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Winners should be aware of the tax responsibilities related to lottery winnings in India in addition to claiming prizes. Any prize money over a specific amount is subject to flat-rate taxation under Indian tax laws. To ensure compliance with tax laws and to fully understand their liabilities, winners are encouraged to speak with tax experts or financial advisors. Winners can responsibly manage their newfound wealth & steer clear of any future legal issues by being aware of their responsibilities.