Loss In Casual Winnings - Online Card Games

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Online gaming is now under a separate regime:

• From 1 April 2023, net winnings from online games are taxed at 30% under Sec 115BBJ, with TDS under Sec 194BA. Net winnings are computed under Rule 133: withdrawals plus year-end balance, minus deposits and the opening balance.

• Losses: under Sec 58(4), no expenditure or allowance is deductible against such winnings, and a loss from online games cannot be set off against any other income or carried forward (Sec 74B / 71 bar for special-rate gaming income). Within a platform, Rule 133 nets deposits and withdrawals, so platform-level "losses" reduce net winnings for that platform account.

• Reporting: show net winnings from online games in Schedule OS (special-rate income, 115BBJ) in ITR-2/3. TDS under 194BA goes in the TDS schedule. A net loss across the year isn't reported as a loss.

• Real-money online gaming: the Promotion and Regulation of Online Gaming Act, 2025 has prohibited real-money games (from late 2025). Winnings or losses after the ban date face both legality and tax issues.

• Old (pre-April 2023) card-game winnings were taxed under Sec 115BB, again with no loss set-off.