Counting the Treasure: How Much Will Jaskaran Really Take Home After Taxes?:

Kaun Banega Crorepati Season 15, hosted by Bollywood megastar Amitabh Bachchan, recently crowned its first crorepati winner. Jaskaran, a resident of Punjab, took home a prize of Rs 1 crore. However, many viewers might be curious about how much of the winnings will actually be received by the winner after deducting taxes.

In the KBC show, the prize money is subject to taxation. The Income Tax Department levies a direct tax of 30% on the winnings, disregarding the tax slab. Additionally, a cess of 4% is charged on the tax amount. Due to these deductions, the contestant who wins Rs 1 crore in Kaun Banega Crorepati actually receives around Rs 70 lakh.

For Jaskaran, the Punjab Crorepati, he will also have to pay a 4% cess on the tax deducted from his prize money. This cess is allocated for the education and agriculture sectors. Therefore, Jaskaran will have to pay Rs 1.32 lakh as cess on the tax amount of Rs 33 lakh.

Jaskaran Singh’s victory in the 15th season of KBC marks him as the first Crorepati winner. He answered Amitabh Bachchan’s questions and secured the grand prize of Rs 1 crore. However, the actual amount he will receive in his account will be subject to deductions.

In conclusion, while winning Rs 1 crore in Kaun Banega Crorepati is certainly a significant accomplishment, contestants must be aware of the tax and cess deductions that come with the prize money.

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