I wnated to know if there are any Online Casino players in India. If yes,How are you withdrawing your Payments? Directly to bank or to some other Online Payment Processors & then to your account? Please reply in this thread,!
Even if you withdraw your winnings directly to your bank account via bank transfer, your bank will have no issues while accepting the same, There are restrictions set up by RBI for outgoing payments (Deposits) to Gambling sites, for receiving payments there are no restrictions. If you have doubts that your bank would object or refuse the payment you can withdraw your winnings to any payment processor like moneybookers or Neteller and withdraw the same to your bank account
That seems to be a good answer ,what about Income taxes in India? Normally the earnings from Casino would be around 4000-5000$ every month. How can i account for this for Income Tax?
There is a special head of income from winning from lotteries and gambling etc. under the income tax act on India. And your earning will fall under that head for you to file an IT Return. More detail can be had from any CA nearby. Edit : Tempting Income in Indian context anyway.