Tax on winning from Game Show reinvested in Property?

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  1. Rakesh Maheshwari

    Rakesh Maheshwari New Member

    If a person has won Rs.1 Crore in a game show, can he get tax exemption by investing in a residential property?
    What are the tax implications? Please guide me.
     
  2. Shishir Nayak

    Shishir Nayak Member

    Tax on Winnings from Game shows like KBC etc is taxable @ 30% + Edu Cess + SHEC and No Deduction is allowed from such earnings.
    You cant avail exemption by investing in house property.
     
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