Question: Is KBC Money Tax Free?

Who won the 7 crore in KBC?

The Narula brothers, Achin and Sarthak, became the first ever contestants to win the highest prize of Rs 7 crore in reality game show ‘Kaun Banega Crorepati’, hosted by Bollywood megastar Amitabh Bachchan..

Is KBC scripted?

KBC is obviously not scripted . Obviously it’s not as smoothly shot as is shown in TV . There are lots of breaks for makeups and all but what with the questions and other parts are definitely real. You can visit as audience on sets if you have any doubts, but it would take hell lot of time and bore you.

What Sushil Kumar is doing now?

Selling the cows’ milk is now my way of living and earning. The news report spread like wildfire.” Sushil also revealed that he almost parted ways with his wife. He said that he moved to Mumbai to become a filmmaker but soon realized that he is doing all of this just to escape from his problems.

How much tax is deducted from KBC?

Income from such winnings is liable to a flat rate of tax at 30% without any basic exemption limit. In general, the payer or disburser of prize money deducts tax at source (i.e., TDS) from the winnings under Section 194B and pays only the balance amount to the winner.

Is KBC amount tax free?

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%. … 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%.

How much money does Amitabh Bachchan take for KBC?

Initially Big B would charge around Rs 2 crore per episode. Now, a source tells us, “Amitabh Bachchan will now be getting around Rs 2.75-3 crore per episode.

Who is the owner of KBC?

Amitabh BachchanMr. Amitabh Bachchan is KBC, says show director Arun Sheshkumar – The Hindu.

How much does Amitabh Bachchan worth?

How much is Amitabh Bachchan Worth? Amitabh Bachchan Net Worth and Salary: Amitabh Bachchan is an Indian film actor who has a net worth of $400 million.

How much Sony earns from KBC?

The ninth season of Amitabh Bachchan’s 17-year-old iconic show Kaun Banega Crorepati (KBC) that returned to TV screens on 28 August is proving to be a money-spinner for broadcaster Sony Pictures Networks India Pvt. Ltd.

What is the annual income of Amitabh Bachchan?

$50 MillionAmitabh Bachchan Net worth 2020NameAmitabh BachchanIndian Rupees3000 CroreMonthly Income$5 Million (35 Crore)Yearly Income$50 Million (350 Crore)ProfessionActor (Bollywood)3 more rows•Sep 10, 2020

How can I avoid paying taxes on lottery winnings?

Taxes on lottery winnings are unavoidable, but there are steps you can take to minimize the hit. As mentioned earlier, if your award is small enough, taking it in installments over 30 years could lower your tax liability by keeping you in a lower bracket.

Who won highest money in KBC?

Here’s a list of the contestants who won the highest prize money at stake!Harshwardhan Nawathe, 1st Season, ₹ 1 Cr. … Ravi Mohan Saini, Winner of KBC Junior, ₹ 1 Cr. … Rahat Taslim, 4th Season, ₹ 1 Cr. … Sushil Kumar, 5th Season, ₹5 Cr. … Sunmeet Kaur, 6th Season, ₹ 5 Cr. … Taj Mohammed Rangrez, 7th Season, ₹ 1 Cr.More items…•

Is income from lottery taxable?

Lottery wins are tax free but earnings on the winnings are taxable.

Which out of the following income is exempt from tax?

For self-employed or non-salary account holders, there are certain incomes categorized under exempt income. They include dividends, agricultural income, interest on funds, capital gains which has to be disclosed under Schedule EI while filing income tax as per ITR-1.

Which is exempted from income tax?

Some examples of Income Tax deductions are: investments made in Equity Linked Savings Scheme (ELSS), Public Provident Fund (PPF), and National Pension Scheme (NPS). Some examples of Income Tax Exemptions are: House Rent Allowance, Leave Travel Allowance, Entertainment Allowance, Long Term Capital Gains on Equity Funds.

How much money Anand Kumar won in KBC?

In 2017, he had participated in KBC as a contestant and won Rs 25 lakh.

How can I earn money in KBC play along?

The team with the highest score can win up to Rs one lakh. The ‘lakhpati prize’ can only be win by the SonyLIV subscribers. The non-subscribers can win up to Rs 1,000 as a cash prize along with other prizes such as television, laptops, Bluetooth speakers, headphones, power banks, mobile phone, iPad, and vouchers.

Who pays the money in KBC?

The chunk of investment in big shows like KBC comes from the TV channel partner. It puts in the prize money and pays for the host, which is almost 70% of the total cost. The licence fee and production is borne by the production house, Big Synergy in this case.

Does KBC really give money?

MOTIHARI: Sushil Kumar, who made history by winning the Kaun Banega Crorepati (KBC) jackpot of Rs 5 crore last month, has now received the prize money of Rs 3.5 crore (after deduction of taxes). … “The prize money is not a huge amount.