TDS on Winnings from online games - Guidelines - Computation of ...

Circulars Income Tax

May 26, 2023

TDS on Winnings from online games - Guidelines - Computation of Net winning - TDS in case a user borrows some money and deposits the same - treatment of bonus, referral bonus, incentives etc. - When the amount is considered as withdrawn - TDS in case of insignificant withdrawal - TDS on net winning in kind - valuation of winning in Kind. - CBDT issues Guidelines

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TDS on Winnings from online games - Guidelines - Computation of ...

Circulars Income Tax

May 26, 2023

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TDS on Winnings from online games - Guidelines for removal of difficulties under sub-section (3) of section 194BA of the Income-tax Act, 1961 - Circular

To cover all types of Online gaming in the ambit of tax deduction section 194BBA has proposed for deduction of tax on 'net winnings' from online gaming and sec 115BBJ...

Calculation of Net winnings from online games during the previous year, for the purposes of section 115BBJ - New Rule 132 inserted - TDS Form 16, certificate amended -...

PIL against the company organizing online Fantasy games - t can be seen that success in Dream 11’s fantasy sports depends upon user’s exercise of skill based on superior...

The key points covered in the summary are: The assessee claimed tax deducted at source (TDS) on prize winnings from unsold lottery tickets as business income and set off...

TDS - Rates for deduction of income-tax at source during the financial year (FY) 2023- 24 from certain incomes other than “Salaries”. - now winning amount from online...

Revision u/s 263 - TDS u/s 194B on payments made to players on winnings from lotteries/crossword puzzles - It is not evident that the AO examined/verified whether the...

TDS on the ‘stake money’ paid to the horse owners on winning of races - Circular No. 240 dated 17.05.1978, clarified that tax was not required to be deducted u/s 194BB...

TDS u/s 194B - paying price money to the owners of winning horses - activity of owning and maintaining horses cannot by any stretch of imagination fall in the definition...

TDS - provisions of Section 194B does not provide for deduction of tax at source where the winnings are wholly in kind and it simply puts a responsibility to ensure...

Characterization of income - Income by way of winnings from lotteries on unsold lottery tickets - Winnings from lottery is read with the other kinds of winnings included...

Prize winning from certain unsold tickets - special rate of tax, i.e., 30 per cent. provided under section 115BB of the Act is applicable even if winning from lottery is...

Guidelines for processing of online IEC applications and IEC check list - Circular

GST on offline/online games such as Rummy - game of skill versus game of chance - principle of nomen-juris

Game of chance or game of skill - rummy and poker - Constitutional validity of the Tamil Nadu Prohibition of Online Gambling and Regulation of Online Games Act, 2022 -...

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