Winning from T.V.Game show prior to 1.4.2002
Basanta Kumar Misra
(Querist) 05 September 2009
This query is : Resolved
Sir,
One gentlemam won Rs.50 Lakhs prize
money from a television game show in July 2000. And the I.T.Deptt. asking to pay tax @30% on the Rs. 50 Lakhs. whether such act of the I.T.Deptt. is not cause violance to Art. 265 of the constitution of India, and Section 136 of the I.T.Act.
Also, whether the Circular No. 447 of 1986 will not be applicable to this gentleman as he is/was not a professional
in such television game show.
Sugata Shankar Roy
(Expert) 05 September 2009
First, Section 115BB provides that gross winnings from games of any sort whatsoever are chargeable to income tax at a flat rate of 30 per cent(+SC+EC+SHEC) on gross winnings (without claiming any allowance or expenditure). Second, it is taxable under section 56(2)(ib) undeer the head Income from Other Sources.
Third, No deduction is permissible under section 57, 80C to 80U.
Sugata Shankar Roy,
Kolkata
