India implements tax guidelines for online gaming companies, TDS on winnings

Updated : May 23, 2023 14:58
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Editorji News Desk

The Central Board of Direct Taxes has issued guidelines for online gaming companies in India, requiring them to deduct TDS at a rate of 30% from player winnings, including bonuses and incentives. However, bonuses and incentives will only be taxed if claimed or withdrawn. Net winnings will be calculated by subtracting the customer's withdrawals from the total deposits and opening balance at the beginning of the year. This move comes after a panel of state finance ministers failed to reach a consensus on taxing the online gaming sector.
   

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