IS THERE TAX FOR FOREIGN MONEY TRANSFER FROM US CASINOS


Hi

I AM FROM TVM [KERALA]. I PLAYED IN A US CASINO AND I GOT SOME MONEY 1500$. WILL THERE BE TAXATION FOR THAT MONEY. IF YES WHAT IS ITS RATE.
 

 
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Consultant & Legal Analyst

If tax deduction has been made at source before remittance to you, the same will not be taxed in India provided you produce proof of deduction at source. However, if you have received the full amount of winning, you will have to pay tax in India for the said amount shouwing income from lottery winning.


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Finance & tax Consultant

Yes, this income is taxable if  you fall in the catagory of ordinary resident of india.This income is taxable under the head INCOME FROM OTHER SOURCES.


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yes. if you provide the details of deduction at source, no need to pay tax in India, otherwise you have to pay he tax in india and the same income show under the head of Income From Other Sources



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There are many Foreign exchange options are avialable which can help to play the casino games for the money transfer as well.I  have try to find out about the https://casinosapproved.info/bitcoin-casino-canada/ site for the casino investment in the game which can help to earn lot of money in good way.

 
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