Instance where the aggregate value of all prizes awarded in any prize competition  is less than rupees one hundred thousand.  The prize shall be free of the  Competition Tax.

Tax  Value of the prize                                                         Pro- Rate Tax

1    Less than Rs. 100000/-                                                    exempted

2    A Pro-Rata Tax shall be charge on the

Total market value of the prizes                                     20%


Any person who intends to promote or conduct a prize  competition within  the province shall obtained a license for purpose in terms of provicence in this statute 14 days before the announcement of the competition.


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