Calculation of net winnings from online games for purpose of section 194(1)[Table: Sl. No. 5]

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.... of the tax year; and D = closing balance of the user account at the end of the tax year. (2) Net winnings comprised in the first withdrawal during the tax year, for the purposes of section 393(3)[Table: Sl. No. 2], shall be calculated using the following formula,:- Net winnings = A - (B+C) Where,- A = amount withdrawn from the user account; B = aggregate amount of non-taxable deposit made in the user account by the owner of such account during the tax year, till the time of such withdrawal; and C = opening balance of the user account at the beginning of the tax year. (3) Net winnings in the formula given in sub-rule (2) shall be zero, if the sum of amounts B and C is equal to or g....

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....x year; B = aggregate amount of non-taxable deposit made in the user account by the owner of such account during the tax year; C = opening balance of the user account at the beginning of the tax year; D = closing balance of the user account at the end of the tax year; and E = net winnings comprised in the earlier withdrawal or withdrawals computed under sub-rule (2) or (4), during the tax year, if tax has been deducted in accordance with the provisions of section 393(3)[Table: Sl. No. 2)] on winnings comprised in such withdrawal or withdrawals. (7) Net winnings in the formula given in sub-rule (6) shall be zero, if the sum of amounts B, C and E is equal to or greater than the sum of amount A and D. ....