CBDT: IT notices sent to online game winners for partial payment of tax: CBDT chief Nitin Gupta

[ad_1]

With a prize money of Rs 58,000 crore won over the past three years, the Income Tax Department has started issuing notices to people who have played and won online games, the chief said on Tuesday. from the CBDT, Nitin Gupta.

The department has begun alerting winners on the Tax Compliance Dashboard if there is a mismatch between income and tax payments.

“We put up a stock in this sector (online gaming) and determined that gains of Rs 58,000 crore were there over the past 3 years. The data is with us. We are in the process of publishing reviews” , Gupta said.

He said notices were posted on the tax compliance portal and winners were pushed to pay taxes due.

“They are supposed to voluntarily comply with paying taxes,” Gupta said.

RECOMMENDEDSTORIES FOR YOU



He also said the department takes enforcement action whenever it finds data is supported by evidence, and in such cases, notices are issued.

The action by the IT department comes on the heels of the GST’s intelligence wing issuing a show cause notice earlier this month to a Bengaluru-based online gaming portal GamesKraft Technologies Pvt Ltd demanding Rs 21,000 crore in taxes, interest and penalties.

GamesKraft has approached the Karnataka High Court against the SCN issued to it by the GST authorities.

The tax was calculated based on the 28% Goods and Services Tax (GST) on online gaming.

Currently, 18% GST is levied on online games of skill, while 28% GST is levied on online games of chance.

[ad_2]
Source link

Comments are closed.