Webinar to discuss taxation and fema related aspects of gaming activities on 13th September
To clarify various queries on under the new Black Money law and general doubts on compliances under the Foreign Exchange Management and Income Tax Acts, in association with GLaws.🌌in and Pokerguru is organising a webinar with Sunil Agarwal, Senior Tax Partner at AZB & Partners and former Additional Commissioner of Income Tax on 13th September from 11 am- 12:30 pm. The first-of-its-kind interactive session will be followed by a Q & A session with the expert.
Agenda of the Webinar:
1. Discussion on whether depositing and withdrawꦿing winnings on offshore/international online gaming, poker websites etc. through e-wallets such as Net🎶eller or directly amount to violation of Schedule I of the Foreign Exchange Management Current Account Transaction Rules. Structuring alternatives available, if any.
2. Compliances under the new 🗹“Black Money Law” with regard to gambling/betting winnings remitted through e-wallets/directly from such websites particularly having regard to the clarification given in the recent Black Money circular.
3. Penalties under the legal framework, i.e. Black Moneꦉy, Income Tax Act and♈ FEMA and what you need to be wary of.
4. Taxation and disclosure of winnings from offshore/Indian poker and gaming websites when: (i) TDS is deducted by such websites and (ii) if no TDS is deducted. Possib♎le ways to structure remittance of winnings to minimise taxation liability.
5. Taxation on winningꦫs in physical casinos outside India when:
(a) such winnings are taxed at source in that foreign juris🌠diction and India has a Double Taxation Avoidance Agreements (DTAA) with that country, an✨d
(b) when India does not have a DTAA with that c✨ouไntry.
(c) ways to structure channelizing the winnings to minimize tax liability in ♔India.
Steps for Registering
1. Log on to – //ipleaders.glaws.in/webinar-b﷽lack-money
2. Click on – “Sign Up Now”
3. Make one-time payment of Rs. 1,020
On successful registration, users will receive🔴 a confirmation email along with the login credentials to join the webinar. The webinar has been limited to 60 participants only and carries a registration fee of Rs. 1,020.
