How to Report Lucky Jet Winnings in Your ITR (Income Tax Return)

Online gaming in India is booming — and games like Lucky Jet are becoming household names. Players win real money, withdraw it instantly, and enjoy the adrenaline rush. But here's a question many ignore:
"Do I need to pay tax on the money I won on Lucky Jet?"

The answer is YES — and not just pay tax, but also report it in your Income Tax Return (ITR). This article explains how to report Lucky Jet winnings in ITR, the applicable tax rules, and what happens if you don’t comply.

What Is Lucky Jet?

Lucky Jet game is an online crash-style game where players bet money and try to cash out before the "lucky jet" crashes. It’s similar to gambling and mostly classified as a game of chance. If you win money from it, the government treats it as “Income from Other Sources” — and not your regular income.

Is Lucky Jet Income Taxable in India?

Yes. Under Section 115BB of the Income Tax Act, any winnings from betting, gambling, or games of chance are taxed at a flat rate of 30% (plus 4% cess), regardless of your income slab.

You also cannot claim deductions against such income — not even on entry fees or losses.

TDS (Tax Deducted at Source) on Lucky Jet Winnings

If the platform is Indian or has a tie-up with Indian payment partners, they may deduct 30% TDS before paying you. However, most Lucky Jet platforms are based outside India and don't deduct TDS. In that case, you are responsible for reporting your earnings in your ITR and paying the due tax.

How to Report Lucky Jet Winnings in Your ITR?

Here’s a step-by-step breakdown:

1. Choose the Right ITR Form

• If you're a salaried individual or a freelancer with Lucky Jet winnings, you can use ITR-2 or ITR-3, depending on your other income sources.

2. Report Under ‘Income from Other Sources’

• In the ITR form, go to the ‘Income from Other Sources’ section.

• Enter the total amount of Lucky Jet winnings for the financial year.

3. Apply Flat 30% Tax Rate

• The system automatically calculates tax at 30% (plus cess).

• No need to club it with your regular salary or business income.

4. Pay Self-Assessment Tax (If Needed)

• If no TDS was deducted by the platform, you must pay the full tax before filing.

• Use Challan 280 on the income tax portal to pay it online.

5. Verify and Submit Your ITR

• Once all information is filled in, verify the ITR using Aadhaar OTP, net banking, or EVC.

• Save the acknowledgment (ITR-V) for future reference.

⚠️ What If You Don’t Report It?

Ignoring Lucky Jet income may seem easy today — but the Income Tax Department is getting smarter. Here’s what could happen:

• Penalty up to 200% of the tax amount

• Interest on unpaid tax

• Scrutiny or notice from the IT department

• Possible FEMA violations if funds come from or go to foreign platforms

Pro Tip: Keep Proof of Transactions

Always save:

• Screenshots of withdrawals

• UPI/Bank credit receipts

• Game history (if available)

• Email confirmations

These help if your income is questioned later by tax authorities.

✅ Conclusion

Playing Lucky Jet for entertainment is fine, but when real money is involved, tax rules must be followed. If you've won any amount — even ₹1,000 — it's your responsibility to report it in your ITR and pay tax at 30%. Non-compliance can cost you much more than you earned.

So be a smart player — not just in the game, but also with your taxes.