Now there will be tax on withdrawing bonus and incentive deposits in online gaming

New Delhi | The Central Board of Direct Taxes (CBDT) has issued clarification on TDS provisions applicable on online gaming. Now the bonus or incentive credited to the user's account in online gaming will be considered as the net amount won. Tax deduction at source ie TDS will be applicable on withdrawing it. No TDS if bonus or incentive amount is used only for playing. CBDT said, if the net winnings do not exceed Rs 100 per month, then the TDS deducting . Not required. This is also applicable in cases where the users account does not have sufficient balance at the time of tax deduction. New TDS rules have been implemented on online gaming from 1st April. It was won by online gaming. Income tax will have to be deducted on the amount.

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