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

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2021-10-23

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.

Top Comments

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8037617

getready

2021-10-23

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

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038262

kachraseth101

2021-10-23

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Mr.Unique wrote:
Just giving a suggestion : what if you buy things from the respective stores and then sell it on Amazon or fk by creating a seller account ?

@kachraseth101

1. Goods sold online are already 30%-40% cheaper than the price offered at these stores.
2. You need to have a brand authorisation letter to sell products of respective brands.
3. Flipkart/Amazon commission is an extra burden.
4. Operating costs are also to be kept in mind.
These are some points that I considered and decided not to sell products online.

If anyone thinks I am wrong.. feel free to correct me.

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8037752

rogerthat

2021-10-23

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Sell it people at heavy discounts

Or buy products that can be resold at 20%-30% later

Or distribute donate to some orphanage old-age or even your needy relatives

Or trade with some known people offline

159 Comments |

91 Dimers

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https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038083

Smak

2021-10-23

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👏 Congratulations 🎊

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038089

bikidas2060

2021-10-23

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Congratulationssssssssssssssss. yayyyyyy. Mere liye ek rupay kaa candy ho toh wo lelena

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038091

DealzWatcher

2021-10-23

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@kachraseth101 , congratulations on winning the JACKPOT, instead of taking all this headache see if you can resell it VIA ZINGOY etc at discounted price, money in hand is better than money in furniture🤩🤩

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038093

imujwal08383

2021-10-23

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Congratulations

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038122

Wander-lust

2021-10-23

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Dimer’s reaction after seeing this

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038185

Mayavi

Moderator

2021-10-23

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motabhaii wrote:
Buying 1 lac gv @ 11000

Wanna get suspend for trading in wrong section ? laughing wink

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038194

Mayavi

Moderator

2021-10-23

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MrKool_JJ wrote:
OMG
Congratulations 🥳
You are really lucky
Please shower your blessings upon me
Do ping me so that I can give you my banking details. @kachraseth101

BTW, dont shower your power to others, we know the end-result stuck_out_tongue

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038199

Mayavi

Moderator

2021-10-23

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Congratz @kachraseth101 smile

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038206

kachraseth101

2021-10-23

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decideaim wrote:
Congrats 🥇
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.

This might work.. thanks buddy

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038207

androgame

2021-10-23

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DealzWatcher wrote:
@kachraseth101 , congratulations on winning the JACKPOT, instead of taking all this headache see if you can resell it VIA ZINGOY etc at discounted price, money in hand is better than money in furniture🤩🤩

Never try that with big denomination GVs smile

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038211

kachraseth101

2021-10-23

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Thanks man

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038213

LG50

2021-10-23

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Congratulations @kachraseth101

Is any of these voucher can be used at SPAR supermarket. These HomeCenter, lifestyle stores are part of SPAR group so maybe it can be useful there.

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038221

kachraseth101

2021-10-23

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DealzWatcher wrote:
@kachraseth101 , congratulations on winning the JACKPOT, instead of taking all this headache see if you can resell it VIA ZINGOY etc at discounted price, money in hand is better than money in furniture🤩🤩

Denomination too big to sell at Zingoy and other apps that I am aware of… Please do share if you know of any app that allows vouchers of this amount to be sold

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038226

niravsheth

2021-10-23

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@kachraseth101 do u still have homecentre coupon?

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038229

kachraseth101

2021-10-23

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niravsheth wrote:
@kachraseth101 do u still have homecentre coupon?

Yes

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038232

Mr.Unique

2021-10-23

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kachraseth101 wrote:
Denomination too big to sell at Zingoy and other apps that I am aware of… Please do share if you know of any app that allows vouchers of this amount to be sold

Just giving a suggestion : what if you buy things from the respective stores and then sell it on Amazon or fk by creating a seller account ?

@kachraseth101

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038245

motabhaii

2021-10-23

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Mayavi wrote:
Wanna get suspend for trading in wrong section ?

I would love to be suspended for the trade to be successful joy

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038247

Dastro

2021-10-23

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Firstly: I am going to play Jackpot games now on cred, amazon, or where ever there is jackpot games stuck_out_tongue laughing

Secondly: Congrats @kachraseth101 smile

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038255

rini50

2021-10-23

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

Time to change my username… Who knows maybe I’ll be a winner in amazon spin games stuck_out_tongue_winking_eye

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038262

kachraseth101

2021-10-23

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Mr.Unique wrote:
Just giving a suggestion : what if you buy things from the respective stores and then sell it on Amazon or fk by creating a seller account ?

@kachraseth101

If anyone thinks I am wrong.. feel free to correct me.

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038265

kachraseth101

2021-10-23

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Dastro wrote:
Firstly: I am going to play Jackpot games now on cred, amazon, or where ever there is jackpot games

Secondly: Congrats @kachraseth101

Wish you luck

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038270

rini50

2021-10-23

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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.
I have seen companies asking people to pay 30% (+ cess) upfront before giving them their prize.

Wait, so those who win amazon quiz prizes like 5k-10k or 50k to 1lakh phone , laptop then they have to pay taxes?

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038272

MrKool_JJ

2021-10-23

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Mayavi wrote:
BTW, dont shower your power to others, we know the end-result

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038295

ami123

2021-10-23

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@rini50 when i won iphone on crownit, TDS was deposited by them

It Depends

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038296

androgame

2021-10-23

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rini50 wrote:
Wait, so those who win amazon quiz prizes like 5k-10k or 50k to 1lakh phone , laptop then they have to pay taxes?

No TDS upto 10K, above that , yes smile
Note- Talking as per IT Act , not sure if amazon actually asks for the taxes

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038298

Mr.Unique

2021-10-23

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ami123 wrote:
@rini50 when i won iphone on crownit, TDS was deposited by them

It Depends

You won iPhone 😲

Highest I got from crownit was a 2k rs shopperstop gv rolleyes

https://www.desidime.com/discussions/i-won-a-jackpot-worth-rupees-10lakh-from-cred-but-how-do-i-convert-it-to-real-cash?page=3#post_8038300

rini50

2021-10-23

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androgame wrote:
No TDS upto 10K, above that , yes

I didn’t know the exact rule.. I thought maybe needed for 1 lakh and above only.
Now praying amazon gives me cheaper phones or amazon gift card less then 10k sob
No more hope on expensive gift expressionless