Secondly, implementing such kind of change in taxation means the upgradation of infrastructure. TDS deduction at the highest rates on all net winnings by each of the platforms without any possibility of reconciliation of losses on other platforms would mean that substantial money would remain withheld with the tax department till the end of the year when returns would be filed and refund would be possible, leading to cash flow issues which is a critical working capital requirement for serious gamers,” Sandeep Chilana, managing partner, Chilana & Chilana Law Offices told BrandWagon Online. 10,000 and are withdrawn in July 2023, then whether TDS under 194BA is required to be deducted? “What one should not forget is that an online gamer plays across platforms and may have net winnings on some and net losses on others. ASCI and Futurebrands launch ‘Wielding Influence, Nurturing Trust’ studyĪnother situation could be that if amounts won between April to June 2023 are less than Rs.
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