Hello Sir/Madam,
I have used online sport betting sites such as Bet365 (company registered and regulated by UK govt) and used online wallets such as Skrill and Neteller (owned by PaySafe group, registered in England) for depositing money to the betting site, since Indian debit cards are not accepted directly by Bet365, I have made some money using sport betting, which is a game of skill and not any card games, I withdrew the money from the Betting site to the above mentioned E-wallets, from these e-wallets I want to withdraw to my Indian Bank account via a wire transfer (note, my e-wallet balance is stored in USD) is it legal to do so, can this be a violation of FEMA since FEMA itself has no specific bans on remittance to India from sport bet winnings?? If legal what is the tax I must pay??
CAclubindia
