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of <h1>Income-tax Rules add Rule 133 to compute net online gaming winnings for sections 115BBJ and 194BA; forms updated</h1> The tax authority amended Income-tax Rules to insert rule 133 prescribing formulae to compute net winnings from online games for sections 115BBJ and 194BA, defining components (withdrawals, non-taxable deposits, opening/closing balances, earlier taxed winnings) and clarifying treatment of bonuses, multiple accounts and in-kind payments. Rule 31A and multiple TDS/TCS forms (Form 16, 24Q, 26Q, 27Q, 27EQ) were revised to incorporate winnings under section 194BA, update cess wording to 'Health and Education Cess', add new annexures/section codes and reporting fields. Most changes take effect from publication or 1 July 2023.
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