Budget proposes 30% TDS on net winnings in online games, removes threshold for TDS levy

NEW DELHI: The government on Wednesday proposed to impose a 30 per cent tax on net winnings from online gaming and also do away with the existing threshold limit of Rs 10,000.

The Budget 2023-24 proposed to introduce two new provisions for Tax Deducted at Source (TDS) on online gaming — levy of 30 per cent on payment of net winnings in a financial year and removal of the current Rs 10,000 threshold for the levy of TDS.