Loss from online games
This query is : Resolved
22 July 2025
How should I declare loss from online games in ITR?
22 July 2025
The Income Tax Act does not allow you to set off losses incurred from online gaming against any other source of income (like salary, business income, etc.). Furthermore, you cannot carry forward these losses to offset future online gaming winnings.
Winnings from online games are considered "Income from Other Sources" and are taxed at a flat rate of 30%+ Cess. This is governed by Section 115BBJ of the Income Tax Act.
Winnings from online games are considered "Income from Other Sources" and are taxed at a flat rate of 30%+ Cess. This is governed by Section 115BBJ of the Income Tax Act.
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