In April 2023, a major tax regulation came into effect for online gamblers in India: a 30% tax on net winnings. This means that if you make a profit from online gambling, you must pay 30% of your net earnings as tax. The net winnings are calculated as the total amount you win over the financial year, minus the amount you wagered.

This tax policy affects all types of online gambling involving real money. While some online platforms may handle tax withholding directly from your winnings, it remains crucial for you to keep accurate records of all your gambling transactions. This record-keeping will help ensure that you report your taxes correctly and avoid potential issues with tax authorities.

For those who earn substantial income from online gambling, seeking advice from a tax professional is highly recommended. Tax experts can provide valuable guidance on how to manage your tax obligations effectively, navigate the complexities of the new tax laws, and potentially optimize your tax strategy.
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