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Casual Income Chapter VI-A Deductions

Varma (Senior Process Executive) (305 Points)

29 April 2020

Hi All,

A person has won 55 lakhs from Online Game Winnings and TDS @ 30.09% has been deducted and paid rest of the winning amount. He has some Chapter VI-A Deductions but while filing ITR they are not allowing Chapter VI-A Deductions. Which ITR does he need to file, ITR 2? he has only other sources of income for the year. Does he eligible for Chapter VI-A Deductions or any other deductions? Did he have an option to carry forward or set off any loss from the Online Game Winnings?

Thanks in Advance.

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4 Replies

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 29 April 2020

No... You can't get such deductions. The winning amount related tax is flat. No more deductions available as CHA VI-A and Some of the deductions...

You pay flat Tax as TDS.

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sanjith kotni (Articled assistant) (663 Points)
Replied 29 April 2020

Hi varma ji,

Visit my blog .I explained entire taxation of Winnings there for your query and comment if any doubts

sanjithkotni.blogspot.com

Kiran Hathalia (837 Points)
Replied 30 April 2020

Can you brief me about the other sources income of the assessee. As rightly said by Mr. Varma, Winning from online gaming fetch the flat tax rate of 30% and cess. But if an assessee has other source income such as saving bank interest, FD interest.. then deduction can be claimed on these incomes restricted to the amount of income that assessee has.