Fantasy sports platforms have gained significant popularity in India in recent years, with several homegrown products leading the market. Dream11 is currently the largest fantasy sports platform in India, offering users the opportunity to create virtual teams and compete based on real-life sports performances. Another prominent Indian product is MyTeam11, which provides similar fantasy gaming experiences across various sports including cricket, football, and basketball.
The taxation framework for fantasy sports in India involves multiple layers. Players\“ winnings are subject to Tax Deducted at Source （TDS） under Section 194B of the Income Tax Act when winnings exceed ₹10,000. Additionally, GST is applicable on the platform fees charged by these fantasy sports operators. The Indian government has been working on clearer regulations to ensure proper tax compliance while supporting the growth of this emerging industry.
Several state governments in India have also implemented their own regulations regarding fantasy sports taxation. States like Karnataka, Tamil Nadu, and Kerala have introduced specific rules governing fantasy sports operations and taxation. These local regulations complement the central government\“s tax policies and help create a comprehensive taxation system for the fantasy sports ecosystem in India. |
