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Real-money gaming is linked to financial fraud and tax evasion: Govt in SC - The Economic Times

Economic Times

Economic Times · 5m ago

Real-money gaming is linked to financial fraud and tax evasion: Govt in SC - The Economic Times

The Indian government has informed the Supreme Court about the financial and security risks posed by real-money online gaming, linking it to financial fraud, money laundering, and tax evasion. Consequently, the Promotion and Regulation of Online Gaming Act, 2025 imposes a complete ban on such gaming in India. Alleged ₹20,000 crore losses occur annually, affecting 45 crore Indians. Outward remittances via gaming channels reached ₹5,700 crore in FY 2023-24, raising oversight concerns.

Related News

ETtech Explainer: Winzo founders' arrests, centre’s fraud charges a moment of reckoning for Indian gaming - The Economic Times

Economic Times

Economic Times · 5m ago

ETtech Explainer: Winzo founders' arrests, centre’s fraud charges a moment of reckoning for Indian gaming - The Economic Times

The founders of gaming company Winzo have been arrested on money laundering charges, as the Indian government cracks down on real money gaming. The Enforcement Directorate has accused Winzo of bot fraud, withholding funds, and capital flight. These actions coincide with the government's defense of a ban on real money gaming, citing concerns over financial fraud, terror financing, and social costs. This situation highlights increased scrutiny and challenges for the Indian online gaming industry.

28% GST On Gaming: SC Schedules Final Hearing On July 25

Inc42 · 9m ago

28% GST On Gaming: SC Schedules Final Hearing On July 25

The Supreme Court of India will hold a final hearing on July 25 concerning GST evasion allegations totalling INR 1.12 Lakh Cr against online gaming companies. These companies argue that the 28% GST on real money games is flawed and lacks legal basis since Rule 31A of the GST Rules did not comply with mandatory processes. The gaming platforms claim retrospective GST notices and unclear provisions violate tax principles, seeking revocation of these notices.

ED to focus on checking money laundering through online gaming following govt ban - The Economic Times

Economic Times

Economic Times · 7m ago

ED to focus on checking money laundering through online gaming following govt ban - The Economic Times

The Enforcement Directorate (ED) is developing focused strategies to address financial crimes linked to the government's recent ban on real-money online gaming. At a conference of zonal officers in Jammu and Kashmir, the agency emphasized timely charge sheet filings and fast-tracking money laundering trials. Discussions included resolving conflicts between the Insolvency and Bankruptcy Code (IBC) and the Prevention of Money Laundering Act (PMLA). The ED also plans to enhance asset restitution and establish exclusive PMLA courts.

GST council hikes tax on online real money gaming and betting to 40% from 28% - The Economic Times

Economic Times

Economic Times · 8m ago

GST council hikes tax on online real money gaming and betting to 40% from 28% - The Economic Times

The GST Council has increased the tax on online real money gaming from 28% to 40%, classifying these activities as 'sin goods', alongside casinos and betting. This tax hike follows the recent Indian legislative move to ban online real money gaming to prevent illicit activities. Meanwhile, household games received a tax cut to 5%, highlighting the government's intention to treat casual and social gaming differently from money-based online games.

Karnataka HC defers hearing on online gaming law pending clarity on SC hearing - The Economic Times

Economic Times

Economic Times · 8m ago

Karnataka HC defers hearing on online gaming law pending clarity on SC hearing - The Economic Times

The Karnataka High Court has postponed the hearing on a writ petition challenging India's Promotion and Regulation of Online Gaming Act, 2025, which bans online real-money games. The court delayed its decision until September 11, as the Centre requested the Supreme Court to transfer similar pending petitions from other high courts to itself. The contentious law seeks to regulate online gaming while eliminating real-money gaming, aiming to encourage e-sports and protect society from negative effects.

Online betting: ED raids WinZO, Gamezkraft premises - The Economic Times

Economic Times

Economic Times · 5m ago

Online betting: ED raids WinZO, Gamezkraft premises - The Economic Times

The Enforcement Directorate recently conducted raids at premises linked to online gaming platforms WinZO and Gamezkraft as part of a money laundering investigation. Searches were carried out at multiple locations in Bengaluru, Delhi, and Gurugram. The investigation focuses on alleged manipulation of gaming algorithms and suspected laundering activities through cryptocurrencies. This action follows the Indian government's recent ban on real money online gaming. The gaming companies have yet to respond to the raids.

Will the Income Tax Department be able to access your social media and emails from April 1, 2026? - The Economic Times

Economic Times

Economic Times · 4m ago

Will the Income Tax Department be able to access your social media and emails from April 1, 2026? - The Economic Times

A viral claim suggesting that from April 1, 2026, the Indian Income Tax Department will access private digital accounts to check tax evasion has been debunked by the PIB Fact Check team. The department’s authority is limited to search operations for significant evasion, not routine checks of law-abiding citizens. This ensures taxpayer privacy unless evidence of substantial tax evasion is present, targeting black money and large-scale evasion only.

Govt serves online gaming companies tax notices worth Rs 1 lakh crore

Economic Times

Economic Times · 2y ago

Govt serves online gaming companies tax notices worth Rs 1 lakh crore

The Indian government has issued show cause notices worth Rs 1 lakh crore ($13.4 billion) to online gaming companies for tax evasion, according to a senior official. The notices are part of efforts to crack down on tax evasion in the gaming industry. From October 1, foreign gaming companies are required to register in India under the amended GST law. The notices have been served to companies like Dream11, Delta Corp, and GamesKraft.

SC to hear on Nov 4 pleas challenging Online Gaming Act, 2025 - The Economic Times

Economic Times

Economic Times · 6m ago

SC to hear on Nov 4 pleas challenging Online Gaming Act, 2025 - The Economic Times

The Supreme Court will hear petitions on November 4 challenging the constitutional validity of the Promotion and Regulation of Online Gaming Act, 2025. The Act prohibits online money games and restricts associated services. Various High Court cases have been consolidated into a single proceeding to prevent multiple legal actions. The government argues the legislation protects society, while several gaming companies have halted real-money contests due to the law's stringent penalties.

Nazara’s ₹800 crore PokerBaazi bet at risk of being written off - The Economic Times

Economic Times

Economic Times · 8m ago

Nazara’s ₹800 crore PokerBaazi bet at risk of being written off - The Economic Times

Nazara Technologies faces a potential write-off of its ₹800 crore investment in PokerBaazi due to a proposed online gaming bill that might restrict real money gaming. Despite this, Nazara's financial performance remains unaffected as real money gaming contributes no current revenue. Mittersain emphasized the company's strong, diversified business model, highlighting that over 80% of revenues come from international markets. Nazara’s overall growth remains robust, with ongoing acquisitions in the gaming IP space.

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