Actually, these winnings are subject to a 30% flat tax rate with no basic exemption cap. The person who pays out the prize money in this situation will often take tax at source (TDS) out of the winnings and just give you the remaining sum.
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Actually, these winnings are subject to a 30% flat tax rate with no basic exemption cap. The person who pays out the prize money in this situation will often take tax at source (TDS) out of the winnings and just give you the remaining sum.