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Taxability of rummy winnings
What about taxablity of Rummy winnings? whether it is taxable at the time of receipt or at the time of winning before withdrawl ??
Replies (4)
At the time of receipt of winning amount it becomes taxable at 30+3% i.e net 33%
Dear Ruchika,
30.9% ( Cess 3% on Tax amount )
| Originally posted by : Saravana kumar | ||
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Dear Ruchika, 30.9% ( Cess 3% on Tax amount ) |
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OH Yes!
It get taxed on winning and not at withdraw. That means if you deposit 1000 win game ur balance is 2000 now u again play for 1000 and win it too now ur balance is 3000 but at last u play a game for 3000 and lose u will be taxed for 4000 even if u haven't withdraw a single rupee.
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