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NET WINNINGS TAXATION
Gamer invested Rs 2.61 crore to play online rummy and poker games; loses net Rs 28 lakh, files ITR reporting Rs 4 lakh income; gets tax notice; he wins case in ITAT BangaloreGamer invested Rs 2.61 crore to play online Rummy, poker games; loses net Rs 28 lakh, stops playing, files ITR reporting Rs 4 lakh income; ...- The Sultanate’s Surcharge: MMDR Amendment shifts wealth from states to minersParliament passed the Mines and Minerals Amendment Bill 2026 on Thursday. This legislation aims to standardize mineral taxation across Indi...
- Good news for investors: No income tax on dividends received from REITs and InvITs in this case, Lok Sabha passes the bill; Check the detailsThe Lok Sabha passed a bill amending tax laws on August 6, 2026. This amendment benefits REIT and InvIT investors by exempting dividend inc...
- Wife paid husband Rs 7.5 crore after selling her shares and bought his Mumbai property, filed ITR claiming 54F tax exemption, got tax notice; she fought and won the case in ITAT MumbaiWife got tax notice as she claimed Section 54F tax exemption by purchasing her husband’s own Mumbai property for Rs 7.5 crore; ITAT Mumbai ...
- ITAT Mumbai cancels income tax notice over Rs 8 crore compensation to tenants without their consent; rejects I-T department's contingent liability claimBuilder's hired firm wanted to pay 56 tenants additional Rs 8 crore to vacate land; Tax Dept sent notice citing this payment as contingent ...
- FCNR(B) hurdle: Singapore holds ground on withholding taxGiven the spread between interest offered on FCNR deposits and interest charged on loans, a 10% WTH on loan interest on tax grossed-up basi...
- 10 major changes in ITR forms for AY 2026-2027 that you must know before filing ITRNew Income Tax Return forms for AY 2026-2027 introduce significant reporting changes. Taxpayers must now report futures and options trading...
- No slowdown yet, but inflation and El Niño are risks: ITC's Sanjiv PuriITC Chairman Sanjiv Puri revealed plans for a Rs 20,000 crore investment over the medium term, including hotel expansion. He highlighted st...
- Starmer leaves No. 10 without ever managing to explain what he stood forKeir Starmer's premiership ended abruptly, overshadowed by Donald Trump's pronouncements. Despite a significant election victory, Starmer s...
- NRE vs NRO income tax rules: How these NRIs, OCIs can save up to Rs 20,500 on $10,000 FD investmentNRIs can significantly reduce tax on NRE deposits in India, as this income is tax-exempt. While NRO account interest is taxable in India, N...
- NRE vs NRO: One account can make your interest tax-free, the other can attract over 30% TDSNRIs and OCIs can use NRE accounts for overseas income and NRO accounts for India-sourced income, but tax treatment differs sharply. NRE in...
- Reduced return from 11.32% to 7.5% on equity arbitrage fund? Blame it on the bee, an enigmatic take on tax and other costs by Nilesh Shah of KotakWhile equity arbitrage funds may provide steady tax-efficient returns, a stunning analysis reveals how the government collects far more tha...
- Earned money from Dream 11, Rummy, other real money gaming apps? File ITR now to report this income or risk tax notice and likely prosecutionIncome from online real money games like Dream 11 and Rummy is taxable, necessitating ITR filing. Even small winnings are subject to a 30% ...
- Ultra HNIs, family offices eyeing options to drive steady income? Here’s a W.I.N strategyTo help them invest the corpus in a more efficient manner, which will ensure steady income, Wodehouse Capital has partnered with investment...
- Online gaming industry relieved as GST Council clears tax hazeThe online gaming industry has welcomed the GST Council’s recommendation that will ensure there won’t be repetitive taxation on gamers, but...
- Online gaming companies await clarity as repeat taxation fears riseGST Council may go for repetition taxation, add 50-60% indirect tax burden in some instances
- TDS on all winnings from online gaming to come into effect from April 1: Budget 2023The government has revised the effective date from which TDS on winnings from online games will be deducted. The amendment was made at the ...
- Govt introduces two new sections in I-T Act to tax user income from online gamingExperts believe that the move will help the online gaming industry to build a distinct identity for itself without getting clubbed with bet...
- Will Budget 2023 hike threshold for tax deduction at source on income from online games?The online gaming is in news due to various reasons. Budget 2022 announced to set up a task force committee to boost the domestic capacitie...
- Tobacco products cheaper than essential food items: WHO study"Prices of tobacco products in the country have not increased substantially over time, thus making these products even cheaper than essenti...
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