Withholding on gambling winnings: scope expanded to various bets but excludes tax deduction for online game winnings. Section 194B is amended to expand withholding to winnings from gambling or betting of any form, applying to amounts or aggregate amounts exceeding the prescribed threshold during the financial year; the marginal heading is updated to cover winnings from lottery or crossword puzzles etc. A proviso excludes deduction of income-tax under this section for winnings from any online game on or after the operative date, and an Explanation adopts the meaning of 'online game' from the Explanation to section 115BBJ.
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.
Withholding on gambling winnings: scope expanded to various bets but excludes tax deduction for online game winnings.
Section 194B is amended to expand withholding to winnings from gambling or betting of any form, applying to amounts or aggregate amounts exceeding the prescribed threshold during the financial year; the marginal heading is updated to cover winnings from lottery or crossword puzzles etc. A proviso excludes deduction of income-tax under this section for winnings from any online game on or after the operative date, and an Explanation adopts the meaning of "online game" from the Explanation to section 115BBJ.
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