CHAITRI SUDHAKARBHAI KHAROD (ARTICLE) 04 December 2020
suppose, I have yearly income below maximum limit. one day, I participate in kaun Banega crorepati and win 50lakhs.
my question is whether tds will be deducted on 50lakhs as my yearly income is below maximum limit
Aditi Kaur (Practising CA) 05 December 2020
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ATUL Y 04 December 2020
Income earned from winning KBC Game Show, Big Boss, Nach Baliye, India’s Got Talent, Fear Factor and other game shows is taxable at a flat rate of 30%. Over and above this income tax rate of 30%, Cess @ % would also be levied on this 30% tax and therefore the total tax rate on such winnings from Game Shows comes out to be 31.20%.
CHAITRI SUDHAKARBHAI KHAROD (ARTICLE) 05 December 2020
It's okay...got it...thank you so much for your kind reply....but I have another question...if i win 160000 from KBC and my other income is 5000. will 30% be deducted as tds???