https://www.taxtmi.com/highlights?id=102216 Only real net winnings from online gaming constitute taxable income; gross wallet credits, recycled funds and transactional movements do not by themselves establish income. The note explains that taxable winnings must be determined after adjusting buy-in or deposit amounts, and that the bar on expenditure deductions applies only after real income by way of winnings is identified. It describes the subsequent online-gaming tax and TDS framework, which accounts for deposits, withdrawals and user-account balances, as clarifying this approach. Applying principles governing stake reduction in gaming transactions, it states that where buy-ins exceed gross winnings, no taxable net winnings arise and an addition based solely on gross wallet winnings is unsustainable. en-us Thu, 30 Jul 2026 08:52:44 +0530 Thu, 30 Jul 2026 08:52:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=102216 Only real net winnings from online gaming constitute taxable income; gross wallet credits, recycled funds and transactional movements do not by themselves establish income. The note explains that taxable winnings must be determined after adjusting buy-in or deposit amounts, and that the bar on expenditure deductions applies only after real income by way of winnings is identified. It describes the subsequent online-gaming tax and TDS framework, which accounts for deposits, withdrawals and user-account balances, as clarifying this approach. Applying principles governing stake reduction in gaming transactions, it states that where buy-ins exceed gross winnings, no taxable net winnings arise and an addition based solely on gross wallet winnings is unsustainable. Highlights Income Tax Thu, 30 Jul 2026 08:52:44 +0530 https://www.taxtmi.com/highlights?id=102216