30% Income Tax payable on winnings above 10,000Rs from any card games
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Dear Arun Jaitley Sir,
We all know the 30% tax TDS for winning more than 10k by playing poker/rummy (skill games/card games) on any Indian websites. Was hopeful this year budget would bring some relief on tax issues. But you didn’t do anything on this aspect. It was in 1987 that the Insertion of new taxation section 115BB was brought into effect in 1987. IT’S BEEN 30 YEARS SINCE IT WAS IMPLEMENTED !! 10,000 Rs was a big amount way back in 1987. But for today it’s absurd to charge 30% tax for above 10k winnings. PK Jain, head of operations of Sachar Gaming Pvt. Ltd has petitioned we know. Indian Govt should revise this for 50,000 Rs and lower the tax from 30% to 15%. Please amend the good old IT law on this.
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