I want to know whether income tax on Dream11 winning for FY 2022-23 is on net profit (amount withdrawn - amount deposited) or is it on the total amount withdrawn from the app ?
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 I'm pretty much sure about TDS applicability on (Withdrawn - Deposit) for FY 2023-24.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.
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.”
CAclubindia
