Hello,
I wanted to know what are the taxes on game show, lets say some one play a game and win a Bike or a Car or some gift.
1. is there any tax on the winner ?
2. If there is any tax how it will deducted becuase winner of the game show got some gift like car or bike etc.
3. if the winner get cash prize from the game show, in that case how much tax will be deducted ?
eg.: Now days in famous Bingo TV show there the winners are winning a Car as well as cash prize are they paying any taxes on there winning gifts ?
