How to Do Your Taxes as a Poker Player
How to Do Your Taxes as a Poker Player
TDS stands for Tax Deduction at Source, under section 194B of the Income Tax Act, winnings from lotteries and games have a corresponding TDS of
The intention behind introducing Sections 115BBJ & 194BA seems to be to ensure that winnings from online games are taxed separately · Relevant winnings as income on their tax return Gambling income includes, but is not limited to, winnings from lotteries, raffles, horse and dog races and casinos
strongest hands in poker In principle, winnings from participating in games of chance or betting are tax-free You therefore do not have to pay taxes on the sum you win For snowbirds from Quebec and Ontario who like to play poker when they're vacationing in Florida, it's important to remember that substantial winnings—typically
