Introduction: The hidden cost of winning big
Betting is booming in India. More people use online platforms like Reddybook, enjoying sports betting, casino games, and live events from their phones.
But many ignore a crucial question:
- Are your betting winnings taxed in India?
- What do you owe if you win big on the Reddy book club or Reddy book live?
Here’s a full look at how India taxes betting, so you’re not caught off guard.
Is betting even legal in India?
- Betting laws are largely state-governed.
- Most Indian states ban physical betting on sports.
- Online betting with offshore companies (like Reddy Book Win) exists in a grey area.
- Games of skill like rummy or fantasy sports are often treated differently.
But whether it’s legal or not in your state, the income tax department will still tax your winnings.
Do you pay tax on betting winnings in India?
Yes. Absolutely.
Under the Income Tax Act, 1961, your betting, gambling, and lottery winnings are taxed at a flat 30% rate, plus applicable cess and surcharge.
- No basic exemption.
- No deductions like with salary or business.
- All winnings are fully taxable.
If you win ₹1 lakh on Reddy book betting, you pay:
- ₹30,000 tax (30%)
- ₹1,200 cess (4% on ₹30,000)
- Total tax = ₹31,200
You keep only ₹68,800.
How is tax deducted on Reddybook?
- Many professional platforms like Reddybook deduct TDS (Tax Deducted at Source).
- You get your winning after tax deduction.
- This ensures you don’t get hit by a large tax bill later.
Example:
- You win ₹50,000 on Reddy book live.
- ₹15,600 tax deducted (30% + cess).
- ₹34,400 credited to your account.
What about small wins?
- Even ₹5,000 won on the Reddy book club login is taxable.
- The ₹10,000 TDS threshold is mainly for lotteries & horse races.
- Practically, treat all betting winnings as taxable income.
Do you need to declare this in your ITR?
Yes. Every time.
- Betting income is reported under ‘Income from Other Sources’.
- If Reddy book deducted TDS, show it in your ITR and claim credit.
- If not deducted, you must pay self-assessment tax.
Ignoring this may bring notices or penalties.
Can occasional players skip the tax?
No. The law doesn’t differentiate.
- Even if you bet once on Reddy book club and won, you’re liable.
- You must pay tax on the winning amount.
Can you adjust betting losses?
- No. Betting losses cannot be set off.
- If you won ₹1 lakh and lost ₹80,000 in another game, you still pay tax on ₹1 lakh.
- Losses from betting can’t reduce your taxable income.
Smart ways to handle betting tax
- Always use regulated platforms like Reddybook that deduct TDS.
- Link your PAN to avoid higher TDS (20% without PAN).
- Keep clear records of bets, wins, and TDS certificates.
- File your ITR on time and pay any additional tax.
Is Reddybook club real or fake?
- Many wonder, “Is Reddy book club real or fake?”
- Reddybook is widely used in India. It offers:
- Secure Reddy book id creation.
- Easy Reddy book club login registration.
- Betting options under Reddy book win and Reddy book live.
Always check reviews and ensure you use official Reddy book login links.
Summary: The price of winning
- Betting is thrilling, but tax rules in India are strict.
- Winnings on Reddybook, Reddy book club, or any platform attract 30% tax, plus cess.
- No deductions, no adjustments.
- Always file your ITR correctly and keep your betting papers in order.