Playing international lottery?
3 years ago
I am a resident of Chandigarh and I wish to play an International lottery through lotter.com, as an Indian citizen, am I allowed to play an international lottery while residing in India, if yes is there something I need to consider while playing to make the transaction legal and in line with the law such as mode of payment for tickets or anuth8else I missed?
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A.Hi
In law, direct remittances from your credit card/net banking/ debit card in to online gaming, international lotteries are prohibited. This is applicable to all Indians and people residing in india whilst connecting to the server (gaming/lottery server) from Indian IP addresses
So , to circumvent the law, these online gaming companies, international lotteries use payment gateways such as CC Avenue, Payu etc and hence in law, your payment is to the payment gateway. So, no worries on remittances made by you.
However all winnings from Lottery / Online gaming are taxed at 31.2 % and you should upon receipt of prize monies, should pay 31.2% tax and thereafter only use the funds.
Please be aware any remittances in excess of Rs25000 to online gaming companies/ lottery companies will attract FEMA rules and so try to keep yourself within this limit.
Hope this information is useful
In law, direct remittances from your credit card/net banking/ debit card in to online gaming, international lotteries are prohibited. This is applicable to all Indians and people residing in india whilst connecting to the server (gaming/lottery server) from Indian IP addresses
So , to circumvent the law, these online gaming companies, international lotteries use payment gateways such as CC Avenue, Payu etc and hence in law, your payment is to the payment gateway. So, no worries on remittances made by you.
However all winnings from Lottery / Online gaming are taxed at 31.2 % and you should upon receipt of prize monies, should pay 31.2% tax and thereafter only use the funds.
Please be aware any remittances in excess of Rs25000 to online gaming companies/ lottery companies will attract FEMA rules and so try to keep yourself within this limit.
Hope this information is useful
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