What is the prize for the 750 bond? Unlocking the Excitement: A Closer Look at the 750 Prize Bond Prize StructureThe Jackpot Rs. 1,500,000 Awaits the Luckiest Participant
What is the first prize of 750 bond? The first prize of Rs. 750 prize bond prize structure reveals an enticing jackpot, a staggering Rs. 1,500,000. This substantial reward adds an element of thrill and anticipation to the bond, creating an exciting prospect for participants as they vie for the chance to strike it rich. The amount is subject to the withholding tax of 15% on filer and 30% on nonfiler.
There is only one first prize in each series issued and eligible for the draw.
Generosity in Multiples Rs. 500,000 for Multiple 2nd Prize Winners
Moving on to the second tier, multiple winners are in for a treat with a fixed amount of Rs. 500,000 each. This not only enhances the overall excitement but also opens up a myriad of possibilities for those fortunate enough to secure the second prize. The inclusion of multiple winners adds a layer of inclusivity, ensuring that more individuals get to share in the joy of a substantial financial reward.
There are three 2nd prizes in each series issued and eligible for the draw.
Commendable Consolation Rs. 9,300 Each for Numerous 3rd Prize Winners
The third tier of the prize structure is equally noteworthy, with numerous winners set to relish a commendable fixed amount of Rs. 9,300 each. While smaller compared to the first and second prizes, this amount contributes significantly to the overall thrill of the bond. The distribution of these smaller prizes ensures a broader spectrum of participants experience success, fostering a sense of satisfaction and engagement.
There are 1696 third prizes in each series issued and eligible for the draw.
Prize Structure for Rs. 750 Prize Bond
| Prize | Amount (Rs.) |
|---|---|
| 1st | 1,500,000 |
| 2nd | 500,000 |
| 3rd | 9,300 |
Note: The figures represent the prize money amount for the Rs. 750 prize bond. Tax is deducted from the prize money, not the face value.
A Dynamic and Inclusive Environment for All Participants
In essence, the Rs. 750 prize bond’s prize structure not only promises substantial financial gains but also creates a dynamic and inclusive environment for participants. The varied prize amounts cater to a diverse range of preferences, making the bond an exciting and rewarding investment for individuals from all walks of life.
Tax Deduction Rates
The tax deduction varies based on the filer’s status.
- Filer: 15% Tax Deduction
- Non-filer: 30% Tax Deduction
Tax is deducted at the source, directly from the prize money, at the time of claiming the winnings.
Calculation of Net Amount for Filer
1st Prize (Rs. 1,500,000)
- Tax Deduction: 15% of Rs. 1,500,000
- Net Amount: Rs. 1,275,000
- Tax Deducted: Rs. 225,000
- Total Received: Rs. 1,275,750
2nd Prize (Rs. 500,000)
- Tax Deduction: 15% of Rs. 500,000
- Net Amount: Rs. 425,000
- Tax Deducted: Rs. 750000
- Total Received: Rs. 425,750
3rd Prize (Rs. 9,300)
- Tax Deduction: 15% of Rs. 9,300
- Net Amount: Rs. 7,905
- Tax Deducted: Rs. 1,395
- Total Received: Rs. 8,655
Calculation of Net Amount for Non-filer
1st Prize (Rs. 1,500,000)
- Tax Deduction: 30% of Rs. 1,500,000
- Net Amount: Rs. 1,050,000
- Total Received: Rs. 1,050,750
2nd Prize (Rs. 500,000)
- Tax Deduction: 30% of Rs. 500,000
- Net Amount: Rs. 350,000
- Total Received: Rs. 350,750
3rd Prize (Rs. 9,300)
- Tax Deduction: 30% of Rs. 9,300
- Net Amount: Rs. 6,510
- Total Received: Rs. 7,260
How to check prize bond 750 online? Click here
Understanding the tax implications of prize money is crucial for winners. Whether you are a filer or a non-filer, the tax deducted directly impacts the amount you receive. Awareness of these deductions allows winners to plan effectively for the utilization of their prize money. Celebrate your victory, but also consider the tax share in your celebration.
what is the first prize of 750 bond?