Ways to avoid wasteful expenses after winning lottery: People taking Onam bumper should know these

THIRUVANANTHAPURAM: The lottery department will give training to those on how to save money after lady luck smiles on them via Onam Bumper. The prize money will be handed over to the winners after reducing the income tax. A 30% tax will be deducted on the prize money above Rs 1,00,000. Cess and surcharge should be given for the prize money above 50 lakh. The lottery department informed that the reports that none of these have been told to the lottery winners are not true.

In order to avoid such complaints, training and awareness will be given after the Onam bumper. The class will introduce the wasteful spending that tempts lottery winners, the care that should be taken, ways to invest money safely and investment plans that generate accurate returns.

10 lakh tickets of Onam bumper of 25 crore have been sold so far. 30 lakh tickets of Rs 500 were printed in the first phase. The second prize is of Rs 5 crore and the third prize of one crore each in 10 series. The fourth prize of one lakh each will be given to 90 people. Fifth prize is of Rs 5000 each for 72,000 people. Also 48,600 prizes of Rs 3000, 66,600 prizes of Rs 2000 and 2,10,600 prizes of Rs 1000 will be given. This time the Onam bumper is printed in fluorescent ink for safety reasons. 54 lakh tickets were sold last year.