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Is there any tax in india for winning bet in Foriegn site
20-Dec-2023 (In Tax Law)
I have neteller account with INR currency and i deposited money with my debit card after i transfer money from neteller to x Gaming foriegn betting which is legal in that country and i registered with sites as India as Inr currency.If i won 10crores when i request wire transfer with taxes from neteller to my bank account. It is legal?Can i pay Tax again?if there how much for 10crore?please help me?
As per Section 115BB of the Income Tax Act the current rate of Income Tax (as on financial year 2013-14) on poker winnings or winnings from any such card games etc. is 30%. Good Luck
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Disclaimer: The response to your query is general in nature not a legal advice to provide solutions to an individual problem. The response will not create any attorney-client relationship. Readers are cautioned not to attempt to solve individual problems on the basis of information contained herein and are strongly advised to seek competent legal counsel in the relevant jurisdiction. The firm, its advocates and staff are not liable for any consequence of any action taken by the readers relying on information provided herein. The firm expressly disclaims all liability in respect of actions taken or not taken based on any contents of this page.
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Adv. Sameer Hussain
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