The prize money would be awarded to the contestant after deduction of 31.2% TDS. 10,000 to any person in a financial year, TDS under Section 194B would also be applicable 31.2%. If the prize money awarded by an organisation is more than Rs. The benefit of income tax slab rates would not be available in such a case and income would be taxed at a flat rate of 31.2%. 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%. 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%. Income Tax 31.20% on Winnings from such TV Shows and Online Winnings Moreover, Finance Act 2001 clarified that Card Games and other game of any sort includes any game show, an entertainment programme on television or electronic mode in which people compete to win prizes or any other similar game.Īlthough in some TV Shows, it is not only a game as their is it involves good use of knowledge, the income earned from such shows would still be classified as “Income from Other Sources” and taxed at the rates mentioned here under. Therefore, income from online gaming would also be required to be disclosed under head “Income from Other Sources”.
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