Quote from: TheUltraElite on October 03, 2023, 03:03:17 PM

The confusion here would be if casinos running outside would have to undergo KYC document submission to the Indian government and the gov then tracks down how many of us are winning money there. Grin

Then the decision of 28% or 30% would come in, obviously this would not happen anytime soon.

Again most casinos are not based in India as gambling is illegal as per the law. These casinos are always located in locations that are tax heaven, it is not that easy for the government to get user data from them. Crypto Casino user data is harder to get hold of as they do not force every user to pass KYC, plus they are mostly anonymous. So it is out of the question for the Indian government to track those users using these casinos.

If they do use Indian exchanges to convert their winnings to INR it won't fall under the 30% TAX slab as there is no way the government would know it is a capital gain. They would only see it coming from an online wallet to the exchange wallet on the same day. If the price of cryptocurrency that is being transferred on the same day does not change capital gain is not applicable.