Section 86 - Insertion of new section 194BA. - Finance Act, 2023

..... Insertion of new section 194BA. 86 . After section 194B of the Income-tax Act, the following section shall be inserted, namely: Winnings from online games. '194BA. (1) Notwithstanding anything contained in any other provisions of this Act, any person responsible for paying to any person any income by way of winnings from any online game during the financial year shall deduct income-tax on the net winnings in his user account, computed in the manner as may be prescribed, at the end of the fin .....

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Section 86 - Insertion of new section 194BA. - Finance Act, 2023

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..... nder sub-section (3) shall, as soon as may be after it is issued, be laid before each House of Parliament, and shall be binding on the income-tax authorities and on the person liable to deduct income-tax. Explanation. For the purposes of this section (a) computer resource , internet and online game shall have the meanings respectively assigned to them in section 115BBJ; (b) online gaming intermediary means an intermediary that offers one or more online games; (c) user means any person who access .....

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Section 86 - Insertion of new section 194BA. - Finance Act, 2023

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