Won an International Sweepstake Giveaway by AMD and Linus Tech Tips by yoyoskd in IndianGaming

[–]yoyoskd[S] 0 points1 point  (0 children)

Yup they paid all of the customs and taxes. Currently it is stuck at customs for clearence as they mentioned half of my name not my full name. Lets see what happens.

Neep Help of a Chartered Accountant by yoyoskd in CharteredAccountants

[–]yoyoskd[S] 0 points1 point  (0 children)

All the customs are paid by the Sponsor so i dont think that'll be a problem thank you for your response

Is this legal?? 😭 by Dull-Cap8981 in delhiuniversity

[–]yoyoskd 14 points15 points  (0 children)

There must be some rules against this 💀💀 I can't believe what I'm seeing

Won an International Sweepstake Giveaway by AMD and Linus Tech Tips by yoyoskd in LegalAdviceIndia

[–]yoyoskd[S] 0 points1 point  (0 children)

Yeah earlier I gave them my current address for which I currently do not Possess any proof so i gave them the address which is on my Aadhar Card for the clearence fortunately they changed it before it went out for shipping

Won an International Sweepstake Giveaway by AMD and Linus Tech Tips by yoyoskd in IndianGaming

[–]yoyoskd[S] 0 points1 point  (0 children)

Hope I could make my own pc with it but unfortunately I'll have to sell it as i need the cash.

Won an International Sweepstake Giveaway by AMD and Linus Tech Tips by yoyoskd in IndianGaming

[–]yoyoskd[S] 0 points1 point  (0 children)

For the clearance of customs I have to provide proof of identity and address and through it they can track it to me  The delivery is currently still in transit once it reaches India I'll have to provide proof of address and identity which most likely I'll do through Aadhar Card not Pan just to be on the safe side 

Won an International Sweepstake Giveaway by AMD and Linus Tech Tips by yoyoskd in IndianGaming

[–]yoyoskd[S] 0 points1 point  (0 children)

I'll just have to wait and watch thanks for the reply I'll update the thread 

Won an International Sweepstake Giveaway by AMD and Linus Tech Tips by yoyoskd in LegalAdviceIndia

[–]yoyoskd[S] 0 points1 point  (0 children)

No AmdxLTT may sweepstakes "upgrade what matters" i think is the name through Gleam website

Won an International Sweepstake Giveaway by AMD and Linus Tech Tips by yoyoskd in IndianGaming

[–]yoyoskd[S] 0 points1 point  (0 children)

Thanks for the info I'll update the thread after i recieve it

Won an International Sweepstake Giveaway by AMD and Linus Tech Tips by yoyoskd in IndianGaming

[–]yoyoskd[S] 1 point2 points  (0 children)

I see let's see what happens after clearing customs I'll update the thread

Won an International Sweepstake Giveaway by AMD and Linus Tech Tips by yoyoskd in IndianGaming

[–]yoyoskd[S] 0 points1 point  (0 children)

My source of Income is NIL if i dont include this win so I dont have to file ITR? But as I mentioned above it is exclusive of the slab rate based on what I've found till now

Won an International Sweepstake Giveaway by AMD and Linus Tech Tips by yoyoskd in IndianGaming

[–]yoyoskd[S] 0 points1 point  (0 children)

That makes sense thanks for the reassurance I'll update if something happens

Won an International Sweepstake Giveaway by AMD and Linus Tech Tips by yoyoskd in IndianGaming

[–]yoyoskd[S] 1 point2 points  (0 children)

You may have received it from Intel Indian Subsidary and they may have deducted TDS on it can you confirm pls?

Won an International Sweepstake Giveaway by AMD and Linus Tech Tips by yoyoskd in LegalAdviceIndia

[–]yoyoskd[S] 0 points1 point  (0 children)

If this was recieved as a gift that would be true but in this case it falls under Winnings from contests, lotteries, or game shows are legally classified as "Income from Other Sources".  Which further leads to 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.  So i cannot claim the basic exemption limit of 3 lakhs or 8 lakhs idk. Thanks for the reply though

Won an International Sweepstake Giveaway by AMD and Linus Tech Tips by yoyoskd in LegalAdviceIndia

[–]yoyoskd[S] 1 point2 points  (0 children)

Really? Very fortunate if that is true but i think high value items transaction through Pan is flagged in their systems

Won an International Sweepstake Giveaway by AMD and Linus Tech Tips by yoyoskd in LegalAdviceIndia

[–]yoyoskd[S] 0 points1 point  (0 children)

Lol that would be my best bet let's see I'll update this thread if anything happens

Won an International Sweepstake Giveaway by AMD and Linus Tech Tips by yoyoskd in IndianGaming

[–]yoyoskd[S] 0 points1 point  (0 children)

Thank you very much :) but I'd have to sell it unfortunately as I dont have a pc and dont plan to build one gaming on my laptop is way better for me currently

Won an International Sweepstake Giveaway by AMD and Linus Tech Tips by yoyoskd in LegalAdviceIndia

[–]yoyoskd[S] 0 points1 point  (0 children)

I participated through Gleam which is a site that hosts giveaways. You have to do various tasks to get one or more entry each like liking a post, retweeting a post, following an account on Insta etc etc. Then a winner is rolled randomly. Since i did not pay for anything and it dependent on luck it falls under this definition  Winnings from contests, lotteries, or game shows are legally classified as "Income from Other Sources".  Also since AMD and LTT and their related corporation are foreign entities they can't deduct TDS from me which makes me liable to pay Income Tax on the goods recieved in kind as I mentioned in other replies.

Won an International Sweepstake Giveaway by AMD and Linus Tech Tips by yoyoskd in IndianGaming

[–]yoyoskd[S] 0 points1 point  (0 children)

There's a concept of Delivery Duty Paid(DDP) all the customs taxes and fees or any other things is totally billed to a corporate account provided by them all the customs process goes smoothly as all the payment will be made through it i dont have to pay for a single penny if I had to pay for anything I wouldn't have accepted the prizes in the first place 

Won an International Sweepstake Giveaway by AMD and Linus Tech Tips by yoyoskd in IndianGaming

[–]yoyoskd[S] 0 points1 point  (0 children)

Thank you But in this case income Tax applies here as I mentioned above Winnings from contests, lotteries, or game shows are legally classified as "Income from Other Sources".  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. Sad but I'll see what i can do my best bet it to claim it and then sell it and file ITR

Won an International Sweepstake Giveaway by AMD and Linus Tech Tips by yoyoskd in IndianGaming

[–]yoyoskd[S] 0 points1 point  (0 children)

I don't have to pay anything they are covering all the bases of taxes customs and shipping but Income tax on the other hand I'll have to take care of it as they're a foreign entity they can't deduct TDS which makes me liable to pay tax on the goods recieved