Tax on winning from game show reinvested in property?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 March 2015
I want to know whether if a person has won Rs.1 Crore in a game show, can he get tax exemption by investing in a residential property?
What are the tax implications? Please guide me.
What are the tax implications? Please guide me.
17 March 2015
No such exemption is available under income tax laws. Taxable at flat rate of 30%.
17 March 2015
no, for this icnome earned no exemption or other investment planning can be done to save tax.
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