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Winning on TV shows

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(Querist)
15 March 2009 I won a mobile phone on one of the TV shows. The organizer requested me to deposit the tax @ 30.9% of the advertised value of the phone, which I did and submitted the proof.

It took the organizer 3 months to send over the phone to me and the invoice accompanying the phone showed 50% of the advertised value which actually matched then current market price.

Now while filing my tax return, should I show the advertised value of the prize or the value at the time of receipt of prize?

Regards.. Naveen
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Rajesh Kumar

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Rajesh Kumar (Expert)
15 March 2009 Take the invoice value of the phone.
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CA.SHAHZAD SAYYED

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CA.SHAHZAD SAYYED (Expert)
15 March 2009 Taxation of winning from TV Games cover U/s 115BB, You won the Prize in kind and Tax with special rates have already been paid so i think no need to show the same while filing your Return
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
15 March 2009 The Value mentioned in the Form no 16A.
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CA.SHAHZAD SAYYED

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CA.SHAHZAD SAYYED (Expert)
15 March 2009 Thanks Nitin Sir for Clarification
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