Tax withholding on gambling winnings now covers all betting but excludes online games after a later effective date. Amendment expands section 194B to include winnings from gambling or betting of any form; deduction of tax at source applies where the amount or aggregate ... Summary
Tax withholding on gambling winnings now covers all betting but excludes online games after a later effective date.
Amendment expands section 194B to include winnings from gambling or betting of any form; deduction of tax at source applies where the amount or aggregate of amounts in a financial year exceeds the ten thousand rupee threshold. A proviso exempts deduction on winnings from any online game from the later effective date, and an Explanation adopts the meaning of "online game" from the referenced Explanation to the related provision.
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