With effect from 01.04.23 Under Section 194BA, platforms must deduct TDS on "net winnings" as determined under Rule 133 of the Income-tax Rule, 1962, which defines net winnings as withdrawals (plus closing balance) reduced by opening balance and non-taxable deposits.
Prior to this in f.y. 21-22 an assesee deposited Total non taxable amount of 1.5cr and withdrawal 1.4cr in rummy circle account and a search was conducted on gamesskrat after that the case of the assessee opend and ao made addition of whole amount. Pls share case low or income tax act which are relevant to determine taxable value from winning. Amended sec 115BBJ is applicable from April 24
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