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Won contest from US based company how can I get tax exemption


21-Jun-2023 (In Tax Law)
I won some amount from a contest on SquadHelp.com, now to withdraw the amount, It asks me to submit the W-8BEN form. The tax would be 30% of the amount, which is way too much. It also said that if India has a Tax treaty with the US, there might be excemption in the Tax. I checked, and turns out we do have such a treaty. Now for claiming it, I need to fill another Form 8833 along with a seperate form for our country's treaty. This is way too complicated. How do I claim my money with the maximum tax excepmtion?
Answers (1)

Answer #1
736 votes
Dear Sir,

Thank you for your query.

How much is the amount involved and accordingly we may guide you. Also, please note that Income Tax Act, 1961 provides that whatever more beneficial for the taxpayer (IT Act or Tax Treaty) shall be applicable.

Look forward to hearing from you soon.

Thanks
Saurabh

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