Kaun Banega Crorepati: How Much Tax Has to be Paid by Reality Show Winners?

KBC season 12 is all set to introduce its audience to the 3rd Crorepati of this season. But do these winners really get to take all the Crores home? Have you ever thought about whether the prize money is taxable or tax-free? Well, the money belongs to the winner only but it is definitely not tax-free. For any reality show be it big boss, KBC, Dus ka Dum, Indian Idol, etc, the cash prize is always taxable. Because it is considered as an income of the respective person. So, the income by way of winning from lotteries, crossword puzzles, card games and other games of any sort, or from gambling or betting of any form or nature whatsoever is taxable under Section 56(2)(ib) of the Income Tax Act, 1961. Watch the video to know more.