Income earned from Dream 11 and 11 Circle

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This query is : Resolved

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This discussion clarifies whether income earned from platforms like Dream11 and 11 Circle is taxable. It confirms that winnings from games are generally taxed under 'Income from Other Sources', specifically referencing Section 115BBJ for taxation rules. The advice also highlights the potential for receiving a notice from the Income Tax Department if tax returns haven't been filed, even if TDS has been deducted on withdrawals.

Keyur

Keyur (Querist)

26 June 2024 Sir/Madam

Request to clarify me whether income received from above subjected is taxable or not ??
if yes then under which head??

Gokul Sharma

Gokul Sharma (Expert)

26 June 2024 winning from games taxable under income from other sources

Nikhil Kaushik

Nikhil Kaushik (Expert)

27 June 2024 also, refer to section 115BBJ for the taxation of such income.

Keyur

Keyur (Querist)

28 June 2024 Sir,

Withdrawal made from this earing and tds deducted on withdrawal and we have not filed i. tax return

Is any chances to notice to be received from Income tax dept.??

Nikhil Kaushik

Nikhil Kaushik (Expert)

29 June 2024 yes. there is always chance of a notice in such cases.

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