The word TAX is spelled out on small wooden blocks placed on coin stacks and various papers.

Income tax is something that many of us are all too familiar with. We’ve all paid what feels like mountains of it on our earnings. We pay it on other money we make, and even certain assets that we own.Β  But one thing we don’t really think about are the winnings from gambling winnings at casino sites. In India, most of us owe a significant chunk of our winnings in income tax and that’s often surprising to some people, which is why we’re here to walk you through it.

Best Indian Online Casinos

CasinoWelcome OfferPayment MethodsPlay
casino days casino logo
βœ… 100% up to β‚Ή50,000
🏏 Weekend Cashback
πŸ‘±β€β™€οΈ Ezugi, Evolution, SuperSpade
πŸ’° Netbanking, IMPS & UPI
πŸ’³ RuPay Credit & Debit Cards
βœ… Paytm, Google Pay, PhonePe
VISIT SITE
PariMatch logo
βœ… 150% to β‚Ή1,05,000
🏏 Many Live Games
πŸ‘±β€β™€οΈ Evolution, Pragmatic, Playtech
πŸ’° Netbanking and UPI
πŸ’³ RuPay Credit & Debit Cards
βœ… Paytm, PhonePe, Google Pay
VISIT SITE
Lucky Niki Table Logo
βœ… 100% up to β‚Ή1 Lakh
πŸ‘³β€β™€οΈ Regular Bonus Offers
πŸ‘±β€β™€οΈ Evolution, Ezugi, Playtech
πŸ’³ RuPay Credit & Debit Cards
πŸ’° Netbanking, UPI, Paytm
βœ… Google Pay, PhonePe, AstroPay
VISIT SITE
10criclogo
βœ… 150% up to β‚Ή20,000 - Live Casino
🏏 1 Lakh + 40 Free Spins - Sports Betting
πŸ‘±β€β™€οΈ 150% up to β‚Ή15,000 + β‚Ή500 Free Bet - Casino
πŸ’° Netbanking and UPI
πŸ’³ Credit & Debit Cards
πŸ’Ž PayTM, GPay, PhonePe
VISIT SITE
BigBaazi Logo
βœ… Up to up to β‚Ή1 Lakh
πŸ‘³β€β™€οΈ Evolution, Pragmatic, Ezugi
πŸ‘±β€β™€οΈ Good Game Library
πŸ’³ Debit/Credit Cards
βœ… BitCoin, Ethereum, Gpay
πŸ’° Netbanking, UPI, RuPay
VISIT SITE
Glassi logo
βœ… Up to β‚Ή1,05 Lakh
πŸ‘³β€β™€οΈ Over 10 Live Casino Providers
πŸ‘±β€β™€οΈ Evolution, Playtech, Pragmatic
πŸ’° Netbanking, UPI
πŸ’³ Credit & Debit Cards
βœ… RuPay, PayTM
VISIT SITE
Fun88 logo
βœ… Up to 400% Bonus
🏏 Casino and Sportsbook
πŸ‘±β€β™€οΈ Good Betting Offers
πŸ’° Netbanking and UPI
πŸ’³ VISA and Mastercard
βœ… Google Pay, EcoPay, Sticpay
VISIT SITE
Leon Bet Logo
βœ… 150% Up to β‚Ή60,000
🏏 Great Live Casino
πŸ‘±β€β™€οΈ Many Promotions
πŸ’° Netbanking and UPI
πŸ’³ Astropay and Creditcards
βœ… MuchBetter, Crypto currencies
VISIT SITE
Maharaja Fortune Casino
βœ… 100% up to β‚Ή25,000
🏏 Sportsbook & Betting
πŸ‘±β€β™€οΈ Evolution, Ezugi, Playtech
    πŸ’³ Netbanking, UPI, BHIM
    πŸ’°Β Axis Bank, Yes Bank, ICICI

    βœ… GPay, PhonePe
    VISIT SITE

     

    Income Tax Rates Come to Around 31.2% After Cess

    A flat 30% income tax rate applies to all winnings, but it actually goes up to around 31.2% with added Health and Education Cess. Winnings are categorized as income from other sources. And this means they technically count toward added income. And it doesn’t matter whether you play in-person or online. Income tax applies in a pretty standard sense across the board, based on the Income Tax Act 1961.

    Taxation Amounts Vary Based on Winnings

    With that being said, however, taxation amounts vary. You need to make above β‚Ή 10,000 to qualify for the tax, to begin with, but as your winnings increase, the taxable amount and percentage also change.

    Larger winnings such as β‚Ή50 lakh have an added 10% surcharge, which brings it up to around 33%. A significant amount of calculation and number-crunching goes into determining the tax-rate applicable to you and your winnings. This is why you should be familiar with the rules that apply most to you.

    You File Your Gaming Income With Tax Returns

    Typically, you’re required to file your gaming income with your tax returns. This is also where you declare your winnings. This makes it easier for filers to declare this added income and have it on record.

    It’s absolutely not worth the risk to evade or avoid filing these taxes because most reputable sites and platforms are already deducting them from your winningsβ€”so why wouldn’t you claim them?

    An overhead view of various tax documents, an envelope with foreign currency, a laptop, and spectacles.

    If You Get ‘Full Winnings,’ Filing is Your Responsibility

    Speaking of deductions, be wary of websites and platforms that promise full winnings. While not necessarily malicious, full winnings imply that they will not be deducting taxes for you. This means that they leave that responsibility to you.

    Missing out on this could lead you into sketchy, possibly illegal territory. Which inevitably affects your wins and your ability to play in the future. Rather than waiting around for legal action or consequences. Try to stay on top of your taxation and continue to play without even the slightest stress or worry.

    We strongly recommend using trusted platforms such as Pure Win, Jeet Play, and 10Cric, among others, to offer legal, reliable services to players like you.

    Income Tax Has Been Vital to Governance, Especially Recently

    It’s only natural to wonder if your taxes are truly benefitting the government and whether they’re even necessary. Truth be told, they’re actually vital to a lot of important development and progress that the state makes. Especially in light of the pandemic. Taxation from gambling is what allows it to stay legal, regulated, and avoid foul play.

    Online betting and gambling in India are a lot more regulated and advanced than they were a few years ago. And while this means you have to pay taxes, it also offers you more security and safety while you play.

    In any case, it’s important to choose only the top live casinos in India for any games or bets you’re interested in placing. You can visit our online gambling portal and stay in the loop about all things related to this. We bring you insights, information, and updates on all the top casinos and live games in India, strategies analyses, and much more.

    More Articles