The online gaming landscape in India continues to grow. New platforms and exciting opportunities to win big amounts of money occasionally launch. However, many users of these apps don’t understand the tax implications on their winnings. While several gaming apps have built reputations for being user-friendly and offering great rewards, only a few are transparent about their GST and TDS policies.
In this blog, we'll explore the taxation policies of some of the most popular gaming apps in India and highlight why Khiladi Adda stands out as the only platform offering a full 100% GST-TDS refund directly to your wallet.
The online gaming industry in India has seen massive growth in the last ten years and is expected to grow to $5 billion by 2025. The use of online gaming platforms, including casual or card gaming platforms, battlegrounds, sporting games, and quizzes, has resulted in offering real money to its players.
Last year, the three bodies of the online gaming industry, namely
the E-Gaming Federation (EGF),
the Federation of Indian Fantasy Sports (FIFS) and
the All India Gaming Federation (AIGF) approached the Central Board of Direct Taxes (CBDT) to
reconsider TDS regime changes that have been effective from April 1, 2023.
Hence, this article will give you in-depth information about India's online gaming industry, its taxation policies, and any potential adjustments.
Before we dive into the specifics, it's important to understand how GST (Goods and Services Tax) and TDS (Tax Deducted at Source) affect your gaming earnings:
Example of Online Gaming Tax: Suppose you have paid Rs. 1,000 as an entry fee to enter an online game and won Rs. 40,000 from that. The gaming firm will deduct GST on Rs. 1000 with a 28% rate in such a case. TDS will also deduct on Rs. 39,000 (Rs. 40,000 - Rs. 1,000) at 30%. Therefore, you will have to pay a GST of Rs. 280 and TDS of Rs. 11,700, which will be deposited with the government, and the remaining balance will be credited into your account as your income from the win. But on Khiladi Adda, you get that GST of Rs. 280 and TDS of Rs. 11,700 also in your account. This is because of the 100% GST-TDS refund policy of Khiladi Adda.
These deductions can significantly reduce your take-home earnings, which is why understanding a platform's policy on these taxes is essential.
Among all these platforms, Khiladi Adda is unique in its approach to handling GST and TDS. Khiladi Adda is the only platform that offers a full 100% GST-TDS refund directly into your wallet. This means that every rupee you win is yours to keep, without any deductions. Here's why Khiladi Adda is the best choice for players who want to maximize their earnings:
Download App & Win up to ₹1 lakh daily: https://www.khiladiadda.com/
When it comes to choosing a gaming platform in 2024, understanding the tax implications is crucial. While most popular apps like MPL, Vision 11, and Rummy Circle impose GST and TDS deductions, Khiladi Adda stands out by offering a 100% GST-TDS refund.
This unique feature ensures that players get the maximum value from their winnings, making Khiladi Adda the top choice for serious gamers in India. So, why settle for less? Play on Khiladi Adda and keep what you win!
This game may be habit-forming or financially risky. Play responsibly Khiladi Adda is applicable for people above 18 only. Participating in skill contests for real cash awards is permitted throughout India, except in certain States (Assam, Andhra Pradesh, Nagaland, Telangana, Sikkim, Odisha, and Meghalaya) that prohibit playing any games for real cash. Please review our Responsible Gaming policies to ensure a fun and safe gaming experience since real cash is involved to play these skill-based games.