How to determine the winning from online gaming prior to 2023 earlier sec 115bb no adjustments or setoff against the loss or sec 58 no deduction on expenses ,, whole winning taxable including non taxable deposit made the assessee
Relevant to a.y. 21-22
For A.Y. 2021–22, any winnings from online gaming are:
Fully taxable at 30% (plus cess) under Section 115BB
No deductions for deposits, expenses, or losses under Section 58(4)
Gross winnings are to be declared and taxed
Karia Overseas
Ahmedabad
CA
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V.K. Ranjan & Co(Chartered Accountants)
New Delhi
B.Com
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