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Kaun Banega Crorepati winners does not take the entire winnings home
in The Lounge
With Kaun Banega Crorepati 4 going on air last week, diehard fans of Amitabh Bachchan have yet another opportunity to meet him. In addition, many stand a chance of becoming millionaires overnight. The only glitch is that the winner does not take the entire winningshome.click here to read more
Click the below link for news which you can use:NeWsYoUCaNUsE
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    I could not open the page. The remark appears- The page does not exist. Apart from money, there is thrill of participating in the scheme. The winning is subject to Income tax. so one cannot get entire winning.

    G. K. Ajmani Tax consultant
    http://gkajmani-mystraythoughts.blogspot.com/

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    Obviously the winner can't hope to pocket the entire money keeping in fact the provisions relating to TDS of the Income Tax Act!
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    Jayen,I could not view the page.It displays a message "The page not found". :(
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    I too am unable to view the link, maybe you need to check the same and resubmit!

    But any way, Gulshan is right, since there would be an exorbitant income tax on the prie money, the winner obviously cannot take it all home!! :(

    "I am free of all prejudice. I hate everyone equally."
    - W. C. Fields :)

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    @Kalyani

    All the incomes of this kind are pre-taxed by way deduction at source!
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    Jayen i couldn't open the page....
    We all know that the money is subject to income tax....
    Is there any other reason too?
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    As far as my knowledge is concerned there could not be any other deductions excepting administrative and service charges!
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    Yes any games shows, lottery winners have to face income tax deduction...but i think however after sometime the wining amount is refunded....on producing TDS certificate? :unsure:
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    @Rajani

    It all depends on the ultimate tax liability of an individual.
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    Oh!!! So, does a lottery player too have ultimate tax liability? if he/she do not have job?
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