Winning Prize on TV

Tax queries 571 views 3 replies

I won a mobile phone on one of the TV shows and organizers requested me to deposit the tax @ 30.9% on value shown during the show before they could despatch it. 

It took organizors 3 months to despatch the phone and accompanied invoice showed value of 50% of the advertized value which represented then prevailing market value.

Now while filing the tax return, should I show the orginal advertized value as my income or the one appearing on the invoice accompanying the prize?

 

 

 

Replies (3)
The Invoice value........

 which phone did u win.

which model?

 

Congratulation !!

invoice value should be shown

 


CCI Pro

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