Tds on prize won in a online contest
gaurav (Wanna PlaY) (54 Points)
13 March 2012gaurav (Wanna PlaY) (54 Points)
13 March 2012
praveen
(Chartered Accountant)
(6971 Points)
Replied 13 March 2012
in case of winnings irrespective on what slab you are under you will have to pay up 30% of the tax. See if you can ask them to consider your contest as a professional charge. Then you can go according to your slab.