Last Updated: October 25, 2023, 17:51 IST
Online gaming companies face a hefty tax invoice from the government as per studies
Indian tax authorities have served notices to on-line gaming corporations demanding about 1 trillion rupees ($12.03 billion) in taxes that they’ve allegedly evaded, a authorities supply mentioned on Wednesday.
NEW DELHI:Indian tax authorities have served notices to on-line gaming corporations demanding about 1 trillion rupees ($12.03 billion) in taxes that they’ve allegedly evaded, a authorities supply mentioned on Wednesday.
In August, India determined to impose a 28% tax on on-line gaming corporations on the entire funds deposited to play on-line video games, resulting in some companies like Mobile Premier League shedding staff.
“The amount for which show cause notices have been issued to online gaming companies is around 1 trillion rupees,” the federal government official, who didn’t wish to be named, informed reporters.
The finance ministry didn’t instantly reply to a request for remark.
(This story has been edited by News18 workers and is printed from a syndicated news company feed – Reuters)
Source web site: www.news18.com
