Tax on winning from Dream 11 in FY 2022 -23
This query is : Resolved
22 June 2023
Hi,
I want to know whether income tax on Dream11 winning for FY 2022-23 is on net profit (amount withdrawn - amount deposited) or is it on the total amount withdrawn from the app ?
I want to know whether income tax on Dream11 winning for FY 2022-23 is on net profit (amount withdrawn - amount deposited) or is it on the total amount withdrawn from the app ?
22 June 2023
Thank you for your reply sir.
I'm pretty much sure about TDS applicability on (Withdrawn - Deposit) for FY 2023-24. But was not very sure about it for the previous FY i.e. 2022-23.
Thanks again.
I'm pretty much sure about TDS applicability on (Withdrawn - Deposit) for FY 2023-24. But was not very sure about it for the previous FY i.e. 2022-23.
Thanks again.
20 August 2023
Expenses incurred in earning the winnings, such as entry fees or transaction charges, may be eligible for deduction under the head “Income from Other Sources.”
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