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how much tax do online casino pay

Chikheang 4 day(s) ago views 187

In India, online casinos are subject to various tax regulations depending on the state laws and the type of gambling activity. Generally, winnings from online casinos are considered taxable income under the Income Tax Act, 1961. For instance, if a player wins a significant amount, it may be taxed at a rate of 30% or more, as per the slab rates applicable to the individual. Additionally, online casino operators themselves are required to pay taxes on their revenue, which can include GST (Goods and Services Tax) currently set at 18% for certain services. However, it is important to note that the legal status of online gambling varies across states, with some prohibiting it entirely, while others allow it under strict regulations. Players should always consult local tax advisors to understand their obligations.
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