Taxation of online betting: winnings face a flat-rate levy with mandatory TDS on payouts and no exemptions.
Winnings from online betting are taxable under a distinct flat-rate regime with cess; such income does not qualify for personal exemptions, deductions or slab rates. Betting platforms must deduct tax at source on qualifying payouts and compute and remit tax on in-kind prizes based on market value, with bettors required to report the income and claim TDS credit when filing returns. (AI Summary)