Fantasy sports betting has gained immense popularity in India, especially with the rise of digital platforms. In India, fantasy sports are considered games of skill rather than chance, which impacts their taxation. The income earned from fantasy sports betting is taxable under the Income Tax Act, 1961. Players must report their winnings as income from other sources and pay taxes accordingly. Additionally, platforms offering these services are required to deduct TDS （Tax Deducted at Source） if winnings exceed a specified limit, ensuring compliance with local tax laws.
For Indian users, it is essential to maintain proper records of their transactions and winnings to avoid legal issues. Many local products, such as Dream11 and My11Circle, have integrated tax compliance features to help users manage their tax liabilities seamlessly. Understanding these taxation rules can help participants enjoy fantasy sports responsibly while adhering to Indian regulations. |
