Set off of gambling loss

1. Yes the games played under Ace2three falls under gambling as per income tax laws. They also deduct TDS from the winnings under section 194B which is specifically for Deduction of Tax on winning from lottery and games of similar nature.

2. No, you cannot claim refund for this TDS deducted because no deduction u/s sec 80C or 80D or any other deduction/allowance is allowed from such income. The Benefit of basic exemption limit and income tax slab rate is also not applicable to this income, also you cannot adjust any loss against this income. The entire amount received will be taxable at the flat rate of 30.9%.The only way you can get any refund out of above is if your client has no other income except the above income during the year and total winning does not exceeds 5,00,000. In that case you can claim rebate under section 87A (which is 5000 for FY 2016-17) as refund.

3. No Loss (including Gambling loss for the same year) can be adjusted against winnings from lottery and similar games. You cannot even deduct any expenses against such income.

Hope this helps

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Hi Pradeep!

Ace2three does fall under the gambling category as it is an online money gaming platform, which meets the legal definitions of gambling.

Unfortunately, as you have already noted, tax laws do not allow gambling losses to be offset against winnings. However, if TDS was withheld, you can try to get it back through your tax return if your overall taxable income is below the taxable threshold.

As far as I know, current tax laws do not allow gambling losses to be offset even within a single tax year. You should consult a tax professional to see if there are any exceptions or case law.

By the way, if you are interested in gambling platforms, I can recommend https://plinkogambling.org. You can find many interesting opportunities to play there with better conditions.

Hope this helps!

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