According to Income Tax Department, tax has to be paid on winning any game like Lottery or Satta Matka. It also includes the TV Show Kaun Banega Crorepati show. Many people play this game in India. Many people are earning money from this. But many people do not know that they also have to pay tax on the money earned from this. In today’s post, we are telling you about the tax applicable on the amount won from Satta Matka Online Game.
Many similar ones are running online. By playing which money can be earned. By the way playing Satta Matka game is completely banned. But still in India they are played on big stars.
Tax is applicable on winning Satta Matka
Now the government should legalize this, they are planning to recover the revenue. The idea of bringing it under the purview of GST is underway. For information, let us tell you that there is a provision to pay tax on games like Satta Matka or Madhur Bazar like section 194B of Income Tx Act 1961. According to this, TDS has to be paid on the amount won. If the price money is more than 10 thousand then you have to pay 30% tax separately.
After forming the BJP government in 2014, many changes have been made in the tax. In this context, a plan is underway to impose tax on games played online. Earlier you had to pay very less tax but now you may have to pay more tax.