Tax on winnings: online game winnings excluded from general winnings tax and defined under the amended provision. The amendment excludes online game winnings from the operation of the provision taxing winnings from lotteries, races, card games and other gambling or betting, and substitutes the Explanation to define 'horse race' by reference to the existing statutory definition and to define 'online game' by reference to the provision governing online gaming; the amendment takes effect for the assessment year beginning on the first day of April, 2024 and subsequent assessment years.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax on winnings: online game winnings excluded from general winnings tax and defined under the amended provision.
The amendment excludes online game winnings from the operation of the provision taxing winnings from lotteries, races, card games and other gambling or betting, and substitutes the Explanation to define "horse race" by reference to the existing statutory definition and to define "online game" by reference to the provision governing online gaming; the amendment takes effect for the assessment year beginning on the first day of April, 2024 and subsequent assessment years.
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