Income tax payable on winnings from online, offline games of chance
Many e-commerce companies like Amazon, CRED and others often run contests like spin-the-wheel where cash equivalent or non-cash prizes like iPhone, OnePlus mobile, gift vouchers, and other goodies are offered. At times, instead of prizes, cashback or discounts on products are given to the customer.
To win these prizes all an individual needs to do is spin the wheel or play the game on the e-commerce website. No money or registration fee or similar is required to be paid to participate in spin-the-wheel contests organized by e-commerce companies. Sometimes, points are given which can be redeemed later for gift cards after crossing a certain threshold.
