Althaf from Karnataka wins Thiruvonam Bumper Lottery first prize: How much will the winner really take home?

By Deepu Mohan | First Published Oct 10, 2024, 1:42 PM IST

Althaf from Karnataka wins the 25 Crore Thiruvonam Bumper! Learn about the prize money breakdown, tax deductions, and the final amount he takes home.

Thiruvananthapuram: The draw for this year's Thiruvonam bumper lottery took place yesterday (October 9), and the Malayalees were excited to find out the winner of the Rs 25 crore prize money. Asianet News reported that the winner is Althaf, a mechanic from Pandyapura in Karnataka. He purchased the winning ticket while visiting relatives in Wayanad.

There are many questions regarding the prize money associated with the Onam bumper, known for offering the largest payout in the history of Kerala lotteries. A common inquiry is whether the winner will receive the entire 25 crore amount in hand. The answer is no; winners do not receive the full prize money. Instead, the amount is subject to deductions, including taxes.

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For the Onam bumper, the breakdown of the prize money is as follows:

- Total Prize Money: Rs 25 Crores
- Agency Commission (10%): Rs 2.5 Crores
-Prize Tax (30%): Rs 6.75 Crores
- Amount Credited to Winner's Account (after deductions): Rs 15.75 Crores
- Surcharge on Tax Amount (37%): Rs 2.49 Crores
- Health and Education Cess (4%): Rs 36.9 Lakhs
- Total Tax on Credited Amount: Rs 2.85 Crores

After all deductions, the total amount the lucky winner will receive is approximately Rs 12,88,26,000 (12.8 Crores).

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