Union Budget 2023-24: Centre To Do Away With INR 10K TDS Threshold For Gaming Startups
India, Feb. 1 -- During her speech for the Union Budget 2023-24, Finance Minister Nirmala Sitharaman proposed removing the TDS threshold of INR 10,000 for online gaming startups. She said that online gaming startups should provide for TDS and taxability on net winnings at the time of withdrawal or at the end of the financial year.
Further, the finance minister proposed to keep the same threshold for the lottery, crossword puzzle games and other similar games. However, the TDS would not apply to aggregate winnings during a financial year, Sitharaman added.
"For online games, it is proposed to provide for TDS and taxability on net winnings at the time of withdrawal or at the end of the financial year. Moreover, TDS would be without the th...
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