Tax on winning from Dream 11 in FY 2022 -23

This query is : Resolved

D Das (Querist)
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22 June 2023 Hi,

I want to know whether income tax on Dream11 winning for FY 2022-23 is on net profit (amount withdrawn - amount deposited) or is it on the total amount withdrawn from the app ?

RAJA P M

RAJA P M (Expert)
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22 June 2023 Withdrawn - Deposit

Message likes : 1 times

D Das

D Das (Querist)
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22 June 2023 Thank you for your reply sir.
I'm pretty much sure about TDS applicability on (Withdrawn - Deposit) for FY 2023-24. But was not very sure about it for the previous FY i.e. 2022-23.

Thanks again.

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Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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20 August 2023 Expenses incurred in earning the winnings, such as entry fees or transaction charges, may be eligible for deduction under the head “Income from Other Sources.”