TDS on online gaming applications w.e.f. April 1

New Delhi, Mar 25 (KNN) From 1 April, 2023 the TDS or tax deducted at source on online gaming applications will be applicable.

It is as against an earlier provision of 1 July, 2023.

Earlier the online gaming industry stakeholders had approached the Central Board of Direct Taxes (CBDT) to oppose changes in TDS and Goods and Service Tax (GST) on the sector.

They also reached out to the Prime Minister’s Office (PMO) to oppose changes.

On 23 February, three online gaming industry bodies, including E-Gaming Federation (EGF), All India Gaming Federation (AIGF) and Federation of Indian Fantasy Sports (FIFS), wrote to the CBDT to reconsider the changes in TDS regime.

Online gaming companies are presently liable to pay 18 per cent GST on their gross revenue.  (KNN Bureau)