In India, horse racing betting tax is governed by specific regulations that vary across different states. The taxation system for horse racing betting involves both direct and indirect taxes imposed on betting activities.
The primary tax applicable to horse racing betting in India is the Goods and Services Tax （GST）, which is levied at a rate of 28% on the total value of bets placed. This tax is collected by betting operators and deposited with the government.
Additionally, some states impose their own local taxes on horse racing activities. For example, in Maharashtra, there is a special tax on horse racing betting under the Bombay Race Course Licensing Act.
Indian betting operators offering horse racing services must comply with tax filing requirements and maintain proper records of all betting transactions. The tax revenue generated from horse racing betting contributes to state government funds.
It\“s important for bettors to understand that all winnings from horse racing betting are subject to income tax under the Income Tax Act of India. Bettors must declare their winnings and pay applicable taxes accordingly. |
