Taxmanns Online Gaming Industry A Practical Guide To Business And Taxation In India In Depth Analysis Focusing On Evolution Legal Framework And Taxation Income Tax And Gst Challenges
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| Author | : CA. Sujatha G |
| Publisher | : Taxmann Publications Private Limited |
| Total Pages | : 16 |
| Release | : 2024-05-06 |
| Genre | : Law |
| ISBN | : 935778893X |
This book provides an in-depth analysis of the online gaming industry in India, focusing on the following: • Evolution • Legal Framework • Taxation Issues It discusses various business models, such as free-to-play, subscription services, and in-game advertising, highlighting their unique challenges and opportunities. Each chapter invites readers—from legal and accounting professionals to business strategists and curious students—to gain a holistic understanding of the complexities of online gaming in India. The Present Publication is the Latest Edition and amended up to 1st May 2024. This book is authored by CA. Sujatha G, CA. Vishal Govindprasad Poddar, CA. Rajeev K. Sharma, CA. Praveen Sharma, CA. Neha Tayal, CA. Rahul R. Gandhi, CA. Deepak Kothari, CA. Satish Sukumar Chippalakatti. The noteworthy features of the book are as follows: • [Introduction to Online Gaming] The book begins with an in-depth analysis of the online gaming industry, emphasising its dynamic intersection of technology, entertainment, and business. It discusses the historical development, various business models, and the significant growth of the global gaming industry, facilitated by technological advancements and widespread internet access • [Business Models in Online Gaming] This book analyses business strategies within the online gaming sector, such as free-to-play models with microtransactions, subscription services, and in-game advertising. Each model's unique challenges and opportunities for developers, publishers, and players are discussed. • [Legal Aspects in India] The book examines the complex legal framework surrounding online gaming in India, focusing on debates and judicial interpretations concerning games of skill versus chance and the broader legal issues impacting the industry • [Taxation Framework] A thorough analysis of taxation related to online gaming under GST and Income Tax is provided. The book covers GST compliance, input tax credits, cross-border transactions, and income tax issues like revenue recognition and deductions • [Global Perspective and Strategic Recommendations] The book discusses global policies on online gaming, comparing international jurisdictions and proposing strategic recommendations for policymakers, industry stakeholders, and regulators The contents of the book are as follows: • Overview of Online Gaming Industry • Laws Governing Online Gaming • Accounting Aspect of Online Gaming • Taxation in Online Gaming • Key Judicial Pronouncements • Global Policies in Online Gaming • Way Forward in Online Gaming
| Author | : |
| Publisher | : DIANE Publishing |
| Total Pages | : 49 |
| Release | : 1998-04 |
| Genre | : |
| ISBN | : 0788148516 |
Indian gaming activities and the revenues generated from them have grown substantially since the late 1980's. 184 of the 555 Indian tribes officially recognized by the U.S. were operating a total of 281 gaming facilities as of December 31, 1996. This report provides an updated profile of the Indian gaming industry, information on the amount of transfers to the tribes from their gaming facilities, a comparison of Indian gaming revenues with the revenues generated by other legalized gaming activities, and a summary of the federal tax treatment of Indian tribes and tribe members. Charts and tables.
| Author | : Taxmann |
| Publisher | : Taxmann Publications Private Limited |
| Total Pages | : 18 |
| Release | : 2022-04-23 |
| Genre | : Law |
| ISBN | : 935622174X |
This one-of-a-kind book provides a complete analysis (from an Income-tax & GST perspective) of the new scheme of taxation of Virtual Digital Assets (VDAs), which includes Cryptocurrencies and Non-fungible Tokens (NFTs). This book helps the reader to understand the following: • Basic Concepts & Ecosystem of VDAs • Difference between the New & the Old Scheme of taxation of VDAs • GST Implications on VDAs • Current Tax Challenges This book also explains the essential taxonomy of the following: • Crypto Assets • NFTs • Blockchain Technology • Distributed Ledger Technology • Airdrop • Mining, etc. The Present Publication is the First Edition, authored by Taxmann's Editorial Board. This book is amended by the Finance Act 2022 and addresses the following critical issues w.r.t. to VDAs: • All foreign currencies have been kept out of the meaning of VDA. Why Bitcoin is a • VDA even if El Salvador has adopted Bitcoin as its official currency? • How to determine the situs of VDA for taxability in the hands of a non-resident? • Head in which the income from transfer of VDA should be taxed? • How should the income from the lending of cryptocurrencies be taxed? • Whether mining of cryptocurrencies is a taxable event? • How to determine the cost of acquisition of mined cryptocurrencies? • Tax implications if VDAs are lost or stolen • How to determine the fair market value of VDAs? • Whether Section 87A rebate and maximum exemption limit allowed from income from VDAs? • Treatment of losses incurred from transfer of VDAs on or before 31-03-2022 • How to compute the income from the transfer of VDA before 01-04-2022? • How to compute the TDS under Section 194S in case of an exchange of one VDA foranother VDA? • Whether VDA is money, legal tender, or security? • Whether VDA is a good or service? • Whether services by foreign crypto exchanges are OIDAR services? The detailed contents of the book are as follows: • Concept of Virtual Digital Asset • Meaning of Virtual Digital Asset • Scheme of Taxation of Virtual Digital Asset on or after 1-4-2022 • Transfer of Virtual Digital Asset without or for inadequate consideration on or after 1-4-2022 • Deduction of tax at source under Section 194S • Scheme of taxation of Virtual Digital Asset before 1-4-2022 • Taxability of cryptocurrency under the GST law
| Author | : United States. General Accounting Office |
| Publisher | : |
| Total Pages | : 56 |
| Release | : 1997 |
| Genre | : Gambling on Indian reservations |
| ISBN | : |
| Author | : Taxmann |
| Publisher | : Taxmann Publications Private Limited |
| Total Pages | : 17 |
| Release | : 2024-03-16 |
| Genre | : Law |
| ISBN | : |
The MCA vide press release dated March 12, 2024, introduced the draft report of the Committee along with a draft bill on 'Digital Competition Law'. The article aims to analyze the key highlights of the Draft Competition Bill 2024, which include: ‣ Qualitative and Quantitative Criteria for Identifying 'Systematically Significant Digital Enterprises' ‣ 90 Days Period to Notify CCI to Qualify as a 'Systematically Significant Digital Enterprise' ‣ Measures Preventing Service Segmentation to Avoid Thresholds ‣ Prescribes Obligations for 'Systematically Significant Digital Enterprises' and their 'Associate Digital Enterprises' ‣ Measures Against Circumvention of Compliance Obligation ‣ Establishing Transparent and Effective Complaint Handling and Compliance Mechanisms ‣ Avoidance of Favoritism in Product Offerings by 'Systematically Significant Digital Enterprises' ‣ Prohibiting Use of Non-public Data by 'Systematically Significant Digital Enterprises' ‣ Preventing Enterprises from Restricting User Communication ‣ Ensuring Freedom for Users to Use Third-party Apps on Core Digital Services ‣ Settlement and Commitment Procedure for Inquiries Initiated Against Enterprises ‣ Power of the Commission to Regulate its Own Procedures and Conduct Studies ‣ Power of Director General to Investigate Contraventions
| Author | : Lovely Dasgupta |
| Publisher | : CRC Press |
| Total Pages | : 265 |
| Release | : 2024-11-06 |
| Genre | : Computers |
| ISBN | : 1040166385 |
This book offers a comprehensive overview from diverse perspectives of online gaming technology, policy, and experiments to understand and review the Indian approach. It starts with the technological viewpoint on the governance and regulation of online gaming and includes the Indian experiment in governing and regulating it. The book brings a nuanced approach related to the perspectives of various stakeholders, the players, the developers, the gamers, the regulators, the law enforcement agencies, the industry and most importantly, the consumers, who are also the intended audience of the work. Present a holistic view of the online gaming industry from technical, legal and policymaking perspectives Offers critical technical highlights include Online transactions, online games ecosystem, online games varied platforms, web3, metaverse, AI and Fantasy Games Includes a comparative analysis to evaluate better the laws, rules, and regulations and the governance of online gaming in India Encapsulates the Indian experience in intervening and streamlining the online gaming industry The book is for Professionals and scholars in the fields of Online Gaming in computer science, Law, and other related discipline. It also serves as a textbook for students for Online Gaming courses.
| Author | : Taxmann |
| Publisher | : Taxmann Publications Private Limited |
| Total Pages | : 18 |
| Release | : 2024-09-13 |
| Genre | : Law |
| ISBN | : |
A 'combination' refers to mergers, acquisitions, or amalgamations between enterprises that may significantly impact competition in the market. The Competition Commission of India (CCI) regulates these combinations to prevent practices that could have an appreciable adverse effect on competition (AAEC). To effectively regulate combinations, the CCI notified the Competition Commission of India (Combinations) Regulations, 2024, on September 9, 2024, which came into effect on September 10, 2024. The key highlights of the notified Regulations include: ‣ Broader Definition of ‘Transaction Value’ under Section 5(d) of the Competition Act, 2002 ‣ Criteria for Assessing 'Substantial Business Operations in India' under Section 5(d) of the Act ‣ Streamlining Notice Requirements under Sections 6 and 6A of the Act for Combinations ‣ Restrictions on the Acquirer's Influence and Rights during Acquisitions under Section 6A ‣ Commission to Carefully Assess Confidentiality Requests during Inquiries ‣ Obligations to File Combination Notices ‣ Amendment to the Fee Structure for Filing Notices ‣ Scrutiny and Validation of Combination Notices ‣ Notice Requirements for Combinations ‣ Hearing Procedures and Statutory Timelines in Combination Inquiries ‣ Modifications to the Proposed Combination ‣ Compliance and Monitoring Requirements for Combination Modifications
| Author | : Rachel Presser |
| Publisher | : CRC Press |
| Total Pages | : 261 |
| Release | : 2023-03-13 |
| Genre | : Computers |
| ISBN | : 1000870545 |
Indie developers and other people who work on games for a living face all kinds of interesting income tax and small business formation issues that more traditional businesses simply don’t: not being geographically bound, relying on alternative funding, long periods of time with no income, and having multiple options for tax treatment of game development costs. The Definitive Guide to Taxes for Indie Game Developers addresses the income tax issues that the average indie game developer is most likely to encounter, in the context of the American Internal Revenue Code and types of taxes. Written by a former tax law practitioner turned game developer and industry consultant with a decade of tax and accounting experience, this newly revised Second Edition includes key provisions of the 2018 tax reform, such as the new qualified business income deduction, R&D credit expansion, and permanent reduction to corporate income taxes. In-depth explanations and examples are provided along with references to Tax Court and Supreme Court cases relevant to each tax benefit. Key Features: Includes authoritative sources with relevant IRS publications, Revenue Rulings, and Tax Court cases Features easy to read, accessible, and humorous language: No legalese! Approaches how business decisions as an indie developer affect personal finances Readers will gain a thorough understanding of taxation’s role in managing a game studio of any size and going indie with any lifestyle. The accompanying companion website is a valuable resource that is annually updated to keep current on any tax reforms.
| Author | : Aneesh singh |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2023 |
| Genre | : |
| ISBN | : |
Online gaming has become a major source of entertainment and a growing industry worldwide. However, the taxation of online gaming remains a complex and controversial issue. This thesis examines the current state of online gaming taxation and analyzes the different tax regimes adopted by different countries. It also considers the challenges governments face in taxing online gaming and assesses the potential impact of taxes on the growth of the industry. The paper concludes with recommendations for governments on how to approach the taxation of online gaming in a way that balances the need for revenue with supporting industry growth.This abstract provides an overview of the legal framework for online gaming in India. It examines the various laws and regulations governing online gaming in India, including the Indian Gaming Act 1976, the Information Technology Act 2000, and the Indian Penal Code. It discusses various legal issues related to online gaming, such as the legal status of online gaming, the legality of offshore gaming, the potential for criminal activity, and the taxation implications of online gaming. It also focuses on the need for a comprehensive legal framework for online gaming in India and the implications of such a framework. Finally, it makes recommendations regarding the need for stricter regulation and oversight of online gaming in India.
| Author | : Taxmann |
| Publisher | : Taxmann Publications Private Limited |
| Total Pages | : 14 |
| Release | : 2024-09-03 |
| Genre | : Law |
| ISBN | : |
On August 26, 2024, SEBI took a decisive step by implementing strict norms to monitor unregistered financial influencers, commonly referred to as 'Finfluencers'. These Finfluencers, who often share financial advice and analysis on various digital platforms, have gained significant prominence. This article analyses the following points: ‣ Background and Rationale ‣ Who are Finfluencers? ‣ Key Concerns Surrounding Unregulated Finfluencers ‣ Regulation of Finfluencers by SEBI ‣ Increased Accountability for Finfluencers Under New SEBI Regulations
