Betting on horse racing and other sports...

[Brainstorm01]

INCOME TAX SCENARIO :

1). TDS u/s 194BB of the Income Tax Act 1961 @ 30% is charged if the winning amount is $1000 more
2). The Appraiser must now declare this income in his ITR under the heading "INCOME FROM OTHER SOURCES", and it is also taxed @ 30% u/s 115BB without any basic exemption limit and Chapter VI A.

GST SCENARIO :

Lottery, betting and gambling are treated as "DELIVERY u/s 7 OF the CGST Act 2017". Now the GST rate on rates is 28%.

Am I right????
Please confirm this to the experts AS SOON AS POSSIBLE...

[JessicaBaker]

I thought that bet money are not taxable

[JasmineWright]

You are right, the rates have changed last year

[HeatherParr]

I don't understand why NFL is popular only in the United States of America. Even in the nearest country that is Canada, it is not so popular. It considered a national sport, like baseball. I started to lay it in the middle school. I always wanted to become a professional player. Now I am just an amateur that sometimes can play a game with friends. I also put bets on NFL matches, and not only. I am using a site that makes predictions. These predictions are made by a computer, it analyzes all the matches and it makes a pick that has a higher probability to win.
__________________________
www.americanodds.com/nfl/nfl-computer-picks

[leemaia14]

NFL is not popular in some countries but in sports betting online, I see a lot of forums.. start betting..

[GeraldBlack]

Horse racing betting is interesting, I remember old American movies, where social events were often held at the racetrack, and the men were betting on the horses. I prefer college basketball picks more because I love watching basketball games, I am well versed in this sport and decided to try to bet on the basqueball.

[5uetrjh]

https://apkprobox.com/bloody-bastard...atest-version/