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ONLINE RUMMY 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; ...- ETtech Explainer: What’s the way forward for gaming industry after Lok Sabha clears Online Gaming Bill?The government says that the ban addresses the risks of fraud, money laundering, and terror financing, while encouraging the growth of e-sp...
- ETtech Explainer: What happens after Lok Sabha clears Online Gaming Bill?While the government says the ban addresses the risks of fraud, money laundering, and terror financing, while encouraging the growth of e-s...
- Gaming bodies write to Amit Shah; urge to block blanket ban, warn of Rs 20,000 crore tax lossIndia’s top gaming bodies All India Gaming Federation (AIGF), E-Gaming Federation (EGF) and Federation of Indian Fantasy Sports (FIFS) have...
- Games of skill not gambling: Online gaming cos tell SC as they challenge Rs 1.12 lakh cr tax demandOnline gaming companies challenge the retrospective application of 28% GST, arguing that games of skill shouldn't be equated with gambling....
- Online gaming equals gambling, taxable at 28% GST: Centre tells Supreme CourtThe Supreme Court is hearing arguments regarding the taxability of online gaming, with the DGGI asserting that the stakes involved constitu...
- SOGI calls for 28% GST on platform fees and not deposits for Indian gaming companiesThe Skill Online Games Institute (SOGI) has urged the government to impose 28% GST on platform fees instead of deposits to prevent tax arbi...
- Real-money gaming companies look for an ace to beat tax bluesCompanies are trying out restrictions on the withdrawal of deposits for shorter games like rummy and poker to avoid being hit by repetitive...
- OneVerse acquires Spartan Poker; sets aside $120 million for M&A in real-money gamingOneVerse, backed by family offices and its founder’s capital, shall invest in M&A of nearly 13 RMG companies across poker, rummy and fantas...
- Gaming firms offer to pick up tax bill to keep players hookedCompanies are subsidising tax liability on users through deposit offers and bonuses, say industry insiders.
- ETtech Explainer: Google Play Store says it will allow real money gaming apps. What does this mean?Google's Play Store will now allow a wide variety of real money gaming (RMG) apps on its platform in India, Mexico, and Brazil. This change...
- Nazara looking at diverse formats within real money gaming space: Nitish Mittersain“There is a great opportunity for a company like Nazara to acquire global studios and address the US market. It can be very profitable for ...
- Dream 11 Fantasy Sports, Rummy 11, or Online Gaming: How your winnings will be taxed
- Sports not games, but both gameOld physically played games like rummy, poker and blackjack are getting seamlessly digitalised, being played online and increasingly in vir...
- TCS faces hiring bias lawsuit in US; BJP MLA asks Centre to ban online gambling adsIn 2018, a California district court ruled in favour of TCS in a lawsuit filed by three former employees who accused the IT services provid...
- Gaming regulations: Understand the games people playThe economics and potential of the entire industry are staggering, but cries out for unambiguous demarcation between games of skill and cha...
- Law Committee suggests clear definition for game of chance and skillThe Law Committee under the Goods and Services Tax Council is of the view that a clear definition and classification of the “game of chance...
- Disappointed with Tamil Nadu govt’s ordinance to ban online gaming: E-Gaming FederationTamil Nadu governor RN Ravi's assent to ban online gaming as well as regulate such companies follows a cabinet decision to take the ordinan...
- Online gaming industry pitches for retaining 18% GSTThe issue has gained traction as the GST Council in its next meeting may take a call on hiking rate on on casino, race course and online ga...
- India may be poised to benefit from a broadly legalized gambling marketAround $60 bn is spent on all types of gambling in India, but only a fifth of it is legally accounted, according to a 2010 study by KPMG.
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