Won an International Sweepstake Giveaway by AMD and Linus Tech Tips
I won these two PowerColor Hellhound 9070 XT GPU Ryzen 9800X3D
They said they'll pay for all the taxes. They are being shipped to me am I liable to pay any taxes on this other than custom duties and import taxes as they are paid by the them totally not me. The main problem i have is Income tax ,I haven't ever filed any ITR or anything as i dont have any income so I needed advice if i should accept this or reject the goods incoming from US to India.
This is what I've found till now
Winnings from contests, lotteries, or game shows are legally classified as "Income from Other Sources". The prize value is subject to a flat 30% tax rate, plus a mandatory 4% health and education cess, resulting in an effective tax rate of 31.2%.Section 194B applies equally to non-cash prizes (prizes "in kind"). The 31.2% tax is calculated based on the fair market value of the hardware you receive.This specific tax applies irrespective of your standard income tax slab. You cannot claim the basic exemption limit against it, nor are you allowed to reduce the taxable amount using standard deductions like Section 80C or 80D.
Posted Jun 6, 2026, 9:31 PM UTC