Winning on King567 is exciting, but the next question on most players’ minds is: How much will you actually get after taxes? This guide puts all jargon aside and explains every part of the tax process on your King567 winnings in plain, practical language—so you always know where you stand.
What Is Taxed on King567?
If you’ve ever wondered if King567 winnings are taxable, the answer is yes. All types of cash payouts, bonuses given as cash, prizes, coupons, or even expensive merchandise won through King567 games are classified as “Income from Other Sources” in India.
You’ll be taxed on:
- Casino game wins
- Online betting rewards
- Tournament and leaderboard prizes
- Cash equivalents, like valuable gadgets
You’re taxed whether the payout is Rs 10,000 or Rs 1,00,000—if it crosses the single-payout threshold.
The 2025 Rule Change for King567 Tax (Explained Simply)
The rules around how King567 and other online game platforms deduct tax changed in April 2025. Now, any individual win over ₹10,000 in a single go gets taxed right away, instead of waiting for you to hit a total of ₹10,000 over the whole year.
Table: King567 TDS Rule Change (2025)
| Rule Trigger | Before April 2025 | After April 2025 |
| Tax Deducted on Total Winnings | Yearly total > ₹10,000 | Each win > ₹10,000 |
| Example: Three wins of ₹8,000 each | TDS applied (₹24,000 total) | No TDS (none over ₹10k) |
| Example: One win of ₹12,000 | TDS on yearly total | TDS only on ₹12,000 |
Key point: If your single win is ₹10,001 or above, 30% TDS is deducted right away before you see your payout.
How King567 Calculates and Deducts Your Tax
Winners get excited, but the money you take home will always be lower than your “win” if tax applies. Here’s exactly how it’s calculated.
The basics:
- Flat 30% tax rate on winnings above single payout of ₹10,000
- No investment deductions (80C, 80D) are allowed against this income
- Health and education cess of 4% may apply if your total winnings are very large
- Extra surcharge for extremely high wins (Rs 50 lakh+)
How “net winnings” are defined for tax:
Your net winnings =
Winnings withdrawn + wallet balance at year-end
– (opening balance + new deposits during the year)
Example Table: King567 Net Winnings Calculation
| Scenario | Amount (₹) |
| Opening Balance | 2,000 |
| King567 Deposits | 10,000 |
| Withdrawn This Year | 40,000 |
| Closing Balance | 3,000 |
| Net Winnings | (40,000 + 3,000) – (2,000 + 10,000) = 31,000 |
So, on ₹31,000 in net winnings, ₹9,300 (30%) will be deducted by King567 as TDS, and you will receive ₹21,700.
When Is Tax Deducted? And By Whom?
- King567 automatically deducts TDS from every qualifying winning at the time of payout.
- No need to wait until year-end or tax season—TDS comes off instantly.
- You get a TDS certificate (Form 16A) for your records.
- Everything shows up in your Form 26AS with your PAN.
You don’t have to handle or deposit taxes yourself. But you do need to report your full winnings in your tax return.
How to Report King567 Winnings When Filing Returns
The tax process goes further than just TDS at withdrawal. You need to mention all your online winnings on your annual income tax return, even if TDS has already been deducted.
What to do:
- List all King567 wins under “Income from Other Sources”
- If King567 deducted TDS, claim this in your ITR using your TDS certificates (Form 16A) or Form 26AS record
- If you overpaid (rare but possible), you can claim a refund
What you cannot do:
- You can’t claim expenses, investment deductions, or offset losses against these winnings
Real-Life Examples
Amit won ₹18,000 in one King567 jackpot:
Amit’s payout was ₹12,600 after King567 deducted ₹5,400 (30%). He got a TDS certificate and declared the ₹18,000 as “Other Income,” reducing future hassles with the tax department.
Priya won ₹8,000 each in three separate games:
No TDS was deducted because no single win topped the ₹10,000 mark. Priya still reported her total winnings in her ITR, as required by law.
Frequently Asked Questions (FAQ)
How much tax is charged on King567 winnings?
Flat 30% on every qualifying payout (plus surcharge/cess where applicable).
Does King567 automatically deduct tax (TDS)?
Yes—all TDS is handled at payout for every eligible withdrawal.
What’s the minimum amount for TDS on winnings?
A single win above ₹10,000 triggers 30% TDS; lower amounts are not taxed at payout, but must still be reported.
Can I claim any deductions or set off gaming losses?
No. King567 winnings are taxed separately—no standard deductions or loss set-off is allowed.
What about bonuses, coupons, or gifts?
They’re taxed too, using their market value if not in cash.
Are NRIs taxed differently?
If you win from India as an NRI, TDS applies; you may get relief if your country has a tax treaty.
What if I don’t report my King567 winnings in my return?
You risk notices, fines, and possible extra taxes—the authorities track gaming winnings carefully.
Quick Tax Tips for Players
- Always keep your TDS certificates—download them from King567 right after big wins.
- Double-check your Form 26AS for each winning listed with your PAN number.
- Consult a tax expert if your total online winnings are large, or if you’re unclear about reporting.
- Keep a simple spreadsheet of your play, especially if you withdraw winnings often.
Key Takeaways
- All King567 winnings over ₹10,000 in one go are taxed at 30%.
- Report all wins on your annual tax return—even if no TDS was taken at payout.
- No deductions, no set-offs, no loopholes.
- Stay organized for tax season to avoid headaches later.
Need Help?
Playing and winning should be fun, not stressful. If you have questions about your taxes, speak with a CA, check your Form 26AS, or reach out to King567’s own help pages for add-on support. Staying informed means your big win really pays off.
Disclaimer:
This guide is for general information on King567 tax on winnings as of July 2025. Always check the latest rules or ask a professional for help on your situation.