Have earned from Dream11 or Rummy? Filling ITR is now mandatory – otherwise it will cost heavy fine! Paisa Live | Have You Earned Money from Dream11 or Rummy? Filing ITR is now Mandata – otherwise you will be fined Heavily!
Even though many online gaming apps have been banned, if you have earned any money from Real Money Gaming Apps like Dream11, Rummy, Pokerbaazi, then it is now mandatory to fill income tax return (ITR). According to the Income Tax Rule 12BA, if you have more than ₹ 25,000 TDS or TCS chopped over you throughout the year, then you need to fill ITR. Such earnings under section 115bbj levy a flat tax of 30%. There is no discount here and it is also not possible to save tax by showing losses. ITR has a separate column for gaming income and negative value is not accepted. If your total income is less than ₹ 2.5 lakh, but has earned from gaming, it is necessary to file ITR. If you do not do, you may have to face notice or litigation under section 276cc.
