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Fantasy sports tax refers to the taxation rules applicable to earnings from fantasy sports platforms in India. In recent years, fantasy sports have gained immense popularity in the country, with platforms like Dream11 and My11Circle attracting millions of users. According to Indian tax laws, any income generated from these activities is subject to taxation under the Income Tax Act, 1961. Players must declare their winnings as income from other sources, and it is taxed at slab rates based on their total income. Additionally, if the winnings exceed a specified threshold, Tax Deducted at Source （TDS） may apply, typically at 31.2% for amounts over ₹10,000. It is crucial for users to maintain proper records and consult tax professionals to ensure compliance and avoid penalties. |
