https://www.taxtmi.com/highlights?id=104301 Skill-based online-game prizes fall within taxable income; the term "winnings" is not limited to chance-based games. However, online-gaming taxability applies only to real net winnings, not gross wallet credits. Repeated circulation of funds, player buy-ins and recycled gaming amounts cannot independently constitute taxable winnings, notwithstanding the bar on deducting expenditure. Where gaming activity results in a net loss and no real net winnings arise, an addition computed on gross online-gaming credits is unsustainable and must be deleted. en-us Tue, 29 Sep 2026 08:34:54 +0530 Tue, 29 Sep 2026 08:34:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=104301 Skill-based online-game prizes fall within taxable income; the term "winnings" is not limited to chance-based games. However, online-gaming taxability applies only to real net winnings, not gross wallet credits. Repeated circulation of funds, player buy-ins and recycled gaming amounts cannot independently constitute taxable winnings, notwithstanding the bar on deducting expenditure. Where gaming activity results in a net loss and no real net winnings arise, an addition computed on gross online-gaming credits is unsustainable and must be deleted. Highlights Income Tax Tue, 29 Sep 2026 08:34:54 +0530 https://www.taxtmi.com/highlights?id=104301