Post
Topic
Board India
Merits 1 from 1 user
Re: Oct 1 | Tax on online gaming & casinos set to 28%
by
TheUltraElite
on 05/10/2023, 15:07:18 UTC
⭐ Merited by Bitcoin Smith (1)
Again most casinos are not based in India as gambling is illegal as per the law.
Which is why Deltin operates its casino in Goa on the water. They are very crafty because they used the loophole in the legal document where it says "no land-based casinos" - hell we will operate in water Tongue

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So it is out of the question for the Indian government to track those users using these casinos.
True, more waste of money for the government, dont think they will afford it. More money should go into election campaigns. Roll Eyes

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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. 
A lot of factors to consider here. And I dont think the people gambling from India need to get concerned about the same. Further clarity should be awaited.