Foreign online lottery
3 years ago
As an Indian citizen residing in Chandigarh, are you allowed to play foreign lottery online? If yes, what are the things to consider with respect to the transactions such as method of payment (Credit card, debit card, payment gateway) or anything that needs to be considered so that all the activity is fair and legal? More info the better. Thank you
A.Hi
In general, Indian citizens are not permitted to remit monies using credit card/debit card/payment gateway in an online gaming/foreign lottery etc.
So, though law does not prohibit foreign lotteries per-se, law does not permit using credit card/debit card/payment gateway in an online gaming/foreign lottery etc.
So, these online gaming / foreign lottery generally circumvent the process by masking their identity using payment processors such as PayU/CC Desk etc.
So, while you win a lottery, you may have to file an affidavit to your bank (called authorised dealer under FEMA Rules) and pay taxes on your winnings at the rate of 33.1%.
Also you cannot use your credit card/debit card/payment gateway for more than USD2500 Per year in any foreign lottery/online gaming sites.
Hope this information is useful.
In general, Indian citizens are not permitted to remit monies using credit card/debit card/payment gateway in an online gaming/foreign lottery etc.
So, though law does not prohibit foreign lotteries per-se, law does not permit using credit card/debit card/payment gateway in an online gaming/foreign lottery etc.
So, these online gaming / foreign lottery generally circumvent the process by masking their identity using payment processors such as PayU/CC Desk etc.
So, while you win a lottery, you may have to file an affidavit to your bank (called authorised dealer under FEMA Rules) and pay taxes on your winnings at the rate of 33.1%.
Also you cannot use your credit card/debit card/payment gateway for more than USD2500 Per year in any foreign lottery/online gaming sites.
Hope this information is useful.
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A.It is okay to some extent after that you have face criminal prosecutions.
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