Hot Deal

I won a jackpot worth Rupees 10Lakh from Cred. But how do I convert it to real cash?

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Spearhead
kachraseth101

I got lucky recently and hit the Cred Mega Jackpot worth Rupees 10 Lakh.
Amazing isn’t it..?
But there is a catch, I got served with 10 vouchers of value 1 lakh each which can be redeemed at only Lifestyle Group stores i.e., Lifestyle , Max Fashion  and Home Center.
After spending 1 Lakh vouchers on myself , family and a few friends , I still have 9 Lakhs to go.
So I created this thread so I can benefit from the wisdom of my fellow dimers.
All ideas that can help me monetize those vouchers even at some concession are welcome.
Dimers! This is an official call for help.

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Spearhead Spearhead
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cm-punk wrote:

Sara maal kachra seth ko hi milta hai aj vishwas ho gya..
T : your username 😂😂

🤣🤣

Spearhead Spearhead
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infodoom00_at_gmail_dot_com wrote:

Put up a banner or printed umbrella … offering “N percent off on your final bill” (at what store though?)<,br>

and station yourselves near the main entrance for two three days.

Or perhaps go inside the store and keep saying “pssst.. I have this offer for you… [pitch the discount offer]” to other patrons waiting during checkout.


Otherwise, check above😛 … many have requested for you to “gift” it and thus get goodwill, instead of money.

P.S.: I never said nor meant that gift it to me. I merely suggested the opition/s.

Or maybe I shall hire someone from Sarojini to do the job for me joy
Jokes apart… I think credit card guy is best suited for the job

Deal Subedar Deal Subedar
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@kachraseth101 pls check on taxability as well to avoid any hassle later on… i think gifts above 50k even if not monetary are taxable.
congrats btw smile

Deal Subedar Deal Subedar
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kachraseth101 wrote:

1 year validity

Buy furniture from home center using coupon codes and avail all kinds of discount and try to resell it to some local furniture shop. Talk to them first though. Same with other stuff that you can buy in lifestyle store.

Deal Newbie Deal Newbie
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kachraseth101 wrote:

Or maybe I shall hire someone from Sarojini to do the job for me joy
Jokes apart… I think credit card guy is best suited for the job

Hehe😁he

By the way https://desidime.com/discussions/sbi-employee-f... have you by any chance, heard this song earlier https://youtube.com/watch?t=12s&v=LV5BIGgfemM¿?🙂

Spearhead Spearhead
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chai_lover wrote:

@kachraseth101 pls check on taxability as well to avoid any hassle later on… i think gifts above 50k even if not monetary are taxable.
congrats btw smile

Thanks for reminding me

Deal Subedar Deal Subedar
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Can u post the pictures of those one lakhs vouchers.? Atleast we get to see that..

Deal Cadet Deal Cadet
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Woah congratulations tada
Never heard such big amount given in lucky draw
You are doing great by sharing your reward @kachraseth101

Deal Cadet Deal Cadet
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Wow… real luck.
And change your name @kachraseth101

Deal Cadet Deal Cadet
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kachra seth malamal thai gyo

Deal Subedar Deal Subedar
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Congrats 🥇 tada

Give someone you know 10k salary and arrange an Umberella shop infront of Home center, ask them to make queries to the coming customers about their purchase needs and follow upto billing and offer 10% additional discount for exchange to cash.
Deal Cadet Deal Cadet
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kachraseth101 wrote:

I tried talking to him, offered him 25% ,but still he politely refused. Requested me to shop.

Wowwwwww, congrats man
Try taking with different store managers and try finding known people to manager
It can be sorted out…

Deal Lieutenant Deal Lieutenant
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Congrats bro tada

Deal Newbie Deal Newbie
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Buy everything you can from remaining 9L amount
And create seller account sell it on Amazon and Flipkart
If you can
Btw Congrats tada

Pro Community Angel Pro Community Angel
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getready wrote:

If it is home center, then you get stuff worth 4L at 10L smile
Anyways.. congrats!

It is quite similar for Lifestyle as well, if you compare the discounts with online stores, the difference is huge.
No experience with Max though.

Note – A kids jacket bought from amazon at 599 was selling at 2800 at lifestyle (this was during non sale time, had went with magicpin vouchers)

Deal Subedar Deal Subedar
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Congrats @kachraseth101

Buy kurtis and sell them

Also mention discount you are ready to give so that some dimer can contact you if interested

Deal Lieutenant Deal Lieutenant
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chai_lover wrote:

@kachraseth101 pls check on taxability as well to avoid any hassle later on… i think gifts above 50k even if not monetary are taxable.
congrats btw smile

I am about to say this.

Windfall incomes and lottery will attract tax of 40% if i am not wrong.

Deal Captain Deal Captain
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Congratulations……..
Dimers ko giveaway krdo sirf 50k ka… Dua milengi baaki 9.5L ka jo krna ho krna stuck_out_tongue

Pro Community Angel Pro Community Angel
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Bk100 wrote:

I am about to say this.

Windfall incomes and lottery will attract tax of 40% if i am not wrong.

TDS is supposed to be deducted by cred (or whoever the provider is) for tax liability confused

Deal Baba Deal Baba
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congratulations bro sunglasses great luck enjoyy smile

Mobile Guru Mobile Guru
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OMG scream
Congratulations 🥳
You are really lucky relaxed
Please shower your blessings upon me blush pray
Do ping me so that I can give you my banking details. @kachraseth101 sunglasses

Cool Cool
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kachraseth101 wrote:

I tried talking to him, offered him 25% ,but still he politely refused. Requested me to shop.

Teja bhai kuch humko bhi dena

Mobile Guru Mobile Guru
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MrKool_JJ wrote:

OMG scream
Congratulations 🥳
You are really lucky relaxed
Please shower your blessings upon me blush pray
Do ping me so that I can give you my banking details. @kachraseth101 sunglasses

I’ll probably use it for my education if the amt is huge pray sunglasses

Deal Lieutenant Deal Lieutenant
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androgame wrote:

TDS is supposed to be deducted by cred (or whoever the provider is) for tax liability confused

I think no tds if given as gv. But in paytm and Amazon terms say users have to bear tax amount in case of win.

Cool Cool
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flushed yeh to hungama hui gawa
Pro Community Angel Pro Community Angel
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Bk100 wrote:

I think no tds if given as gv. But in paytm and Amazon terms say users have to bear tax amount in case of win.

" Provided that in a case where the winnings are wholly in kind or partly in cash and partly in kind but the part in cash is not sufficient to meet the liability of deduction of tax in respect of whole of the winnings, the person responsible for paying shall, before releasing the winnings, ensure that tax has been paid in respect of the winnings "

it would be the responsibility of the provider to ensure tax is paid before disbursing the prize.
I think its really hard to tax GVs unless they are taxed at source.
I have seen companies asking people to pay 30% (+ cess) upfront before giving them their prize.

Deal Lieutenant Deal Lieutenant
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androgame wrote:

" Provided that in a case where the winnings are wholly in kind or partly in cash and partly in kind but the part in cash is not sufficient to meet the liability of deduction of tax in respect of whole of the winnings, the person responsible for paying shall, before releasing the winnings, ensure that tax has been paid in respect of the winnings "

it would be the responsibility of the provider to ensure tax is paid before disbursing the prize.
I think its really hard to tax GVs unless they are taxed at source.

Then cred is responsible for tds .

Any way cred is very irresponsible . And we know this fact very well. 😂

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