Play online international lotteries lawfully
5 months ago
can an indian resident living in maharashtra , play online international lotteries lawfully ? on winning can he bring back prize earned in foreign exchange by paying applicable taxes?
A.Under the Lotteries Regulation Act, of 1988, the state governments have been authorised by the central government to make their laws related to the game. As a result, some states have banned it and some still consider it legal.
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A.Dear client
The legal status of online gambling, including participation in international lotteries, is a complex and evolving area. Some states in India have specific laws addressing online gambling. In Maharashtra, gambling and lotteries are regulated by the Maharashtra Prevention of Gambling Act, 1887. While the act generally prohibits certain forms of gambling, including some types of lotteries, the legal status can be subject to change. If an Indian resident were to win a prize in an international lottery, bringing back the prize money in foreign exchange would be subject to the Foreign Exchange Management Act (FEMA) regulations. Repatriation of funds earned through such means may be subject to certain conditions and taxes.
The legal status of online gambling, including participation in international lotteries, is a complex and evolving area. Some states in India have specific laws addressing online gambling. In Maharashtra, gambling and lotteries are regulated by the Maharashtra Prevention of Gambling Act, 1887. While the act generally prohibits certain forms of gambling, including some types of lotteries, the legal status can be subject to change. If an Indian resident were to win a prize in an international lottery, bringing back the prize money in foreign exchange would be subject to the Foreign Exchange Management Act (FEMA) regulations. Repatriation of funds earned through such means may be subject to certain conditions and taxes.
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