Union Budget 2023-24: Govt To Clarify Online Gaming Taxation
India, Feb. 1 -- During her speech for the Union Budget 2023-24, Finance Minister Nirmala Sitharaman said that the government will issue clarity on the taxation regime work for online gaming.
"Major measures in terms of easing the taxation burden include clarifying taxability related to online gaming; not treating conversion of gold into electronic gold receipts as capital gains, and more," said Sitharaman.
The finance minister proposed 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. She also proposed to do away with the TDS threshold of INR 10,000 for online games.
"For lottery, crossword puzzles games, etc, the threshold limit of INR 10,0...
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