The tax on KBC (Kaun Banega Crorepati) prize money is a flat rate of 30%, plus a 4% cess, and surcharge if applicable

. This applies to any earnings from reality TV shows, lotteries, games, and the like, considered "Income from Other Sources"

. Key points to remember:

• Tax Rate Winnings from KBC are taxed at a flat rate of 30%

• Cess and Surcharge A 4% cess is added to the tax amount

. A surcharge might also apply depending on the total income

• TDS (Tax Deducted at Source) If the prize amount exceeds ₹10,000, the organizers of KBC will deduct TDS at 30% plus applicable surcharge

• No Slab Benefits or Exemptions The basic exemption limit does not apply to winnings and no deductions under Chapter VI-A (like Section 80C) are allowed against this income

• Reporting in ITR You must report the winning amount when filing your income tax return. You can claim credit for the TDS already deducted

Winning a significant amount on KBC can have considerable tax implications, so it's essential to understand these rules to manage your finances effectively