Goods and Services Tax - Explore tax implications of online gaming in India under Finance Bill, 2023. Learn about new tax deductions and regulations for online gaming income....
Goods and Services Tax - Gain a comprehensive understanding of Tax Deducted At Source (TDS) provisions under the Income Tax Act, 1961. Explore key sections such as 192, 193, 194, and 195, which cover various payment scenarios where tax deduction is required. Learn about TDS rates, thresholds, and implications for different types of income....
Goods and Services Tax - In the Finance Bill 2023, a new TDS section, 194BA, and 115BBJ, have been inserted into the Income Tax Act, and they have been made applicable from 01.04.2023. Eligibility criteria for the tax deductor: Any person (resident or non-resident) responsible for paying any income by way of winnings from any online game to any person […]...
Goods and Services Tax - Section 194BA was introduced by Finance Act 2023 to deduct TDS on net winnings from any online games. Manner of computation of net winning has been prescribed in Rule 133 of Income-Tax Rules, 1962....
Goods and Services Tax - Government vide its notification no. 28/2023 dated 22 May 2023, introduced rule 133 under Income Tax Rules (the Rule) to provide the mechanism of calculation of the net winnings. While computing the net winnings following terms have been defined which will be used in formula for computation....
Notification No. 28/2023-Income Tax [G.S.R. 379(E).] - (22/05/2023) - Amendment in Income tax Rules, 1962, insertion of new rule 133 for prescribing calculation of net winnings for online games, notification of revised Form No. 16, Form 24Q, Form 26Q, Form 27Q, and Form 27EQ – Notification No. 28/2023-Income Tax | Dated: 22.05.2023 Central Board of Direct Taxes ...
Circular No. 5 of 2023-Income Tax - (22/05/2023) - Circular No. 5 of 2023, issued by CBDT, provides guidelines for the implementation of section 194BA of Income-tax Act, 1961. This section pertains to the deduction of income tax on winnings from online games....
Notification No. 28/2023-Income Tax [G.S.R. 379(E).] - 22/05/2023
Circular No. 5 of 2023-Income Tax - 22/05/2023