Digital Tax

Paytm, the digital payments company, introduced a new unified payments interface (UPI) feature on Wednesday. The new feature, dubbed UPI statement download, allows users to get a detailed statement of their transaction history for the desired period. The service is available to all users without any cost. The company highlighted that the feature wi...

The Reserve Bank of India (RBI) recently announced an increase in limit of Unified Payments Interface (UPI) transactions for tax payments. The decision was made as a part of RBI’s Monetary Policy announcement last week. With this, users can now transact up to Rs. 5,00,000 while settling their tax liabilities. Earlier, this limit was kept at Rs. 1...

The Group of 20 finance leaders meeting this week for progress on a stalled plan to reallocate taxing rights on large multinational companies.The stakes in the negotiations are high. A failure to reach agreement on final terms could prompt several countries to reinstate their taxes on U.S. tech giants and risk punitive duties on billions of dollars...

The US and India have extended their standstill agreement till June 30, over the former's retaliation over India’s digital-services tax on big tech firms. The development was announced by the US ahead of a deadline for a global deal that will reallocate taxing rights for major US tech firms that provide digital services like Alphabet-owned Google...

India and the US have decided to extend a 2 per cent equalisation levy or digital tax on e-commerce supplies until June 30, the finance ministry said on Friday.

The Indian crypto circle has been waiting for FM Sitharaman to revise the tax laws imposed over the crypto sector. Despite the outcry, the finance minister did not announce any taxation relief for the crypto sector while presenting the interim annual budget earlier this year. Her re-appointment to the finance minister’s position has sparked conce...

The Karnataka government will embark on an ambitious project of digitising property tax records of all 20 lakh properties in Bengaluru and issue digital e-Khata (legal document issued to property owners) from fiscal year 2024-25.

Cryptocurrency brokers, including exchanges and payment processors, would have to report new information on users' sales and exchanges of digital assets to the Internal Revenue Service (IRS) under a proposed US Treasury Department rule published on Friday. The rule is part of a broader push by Congress and regulatory authorities to crack down on c...

Krafton India, makers of the popular online game BGMI, on Thursday pitched for government support measures to promote the online gaming industry in the country. Krafton India CEO Sean Hyunil Sohn highlighted subsidies given to gaming companies for labour costs by countries like the UAE and Canada and stated that innovative ways can be found to pro...

Digital payments and fintech platform PhonePe on Monday launched a feature to pay income tax through its app. Individuals and businesses can pay self-assessment and advance tax through UPI or credit card via the application, without logging into the income tax portal, PhonePe said.

Digital payments and fintech platform PhonePe on Monday launched a feature to pay income tax through its app.

Netflix's income from streaming services in India could soon be taxed by the government, according to an ET report. The streaming firm could be the first overseas digital company providing consumers with electronic commerce services to be taxed in India.

Xbox Game Pass memberships are finally available to buy at retail. Digital codes for Xbox Game Pass Ultimate and PC Game Pass are now up for purchase from Amazon at MRP, granting access to hundreds of games, an EA Play membership, cloud gaming, and an Xbox Live Gold subscription for online multiplayer. Xbox Game Pass Ultimate is available at Rs. 49...

A levy imposed by Britain on the revenues of big tech companies such as Google, Facebook and Amazon in 2020 as a stopgap measure pending an international tax agreement risks becoming permanent, a group of tax experts said on Wednesday.

Crypto exchanges and firms dealing with virtual digital assets must perform KYC of their clients and users on the platform, under new rules notified by the Finance Ministry earlier this week. Entities dealing in virtual digital assets are now considered 'reporting entities' under the Prevention of money laundering Act (PMLA).

Paytm, the digital payments company, introduced a new unified payments interface (UPI) feature on Wednesday. The new feature, dubbed UPI statement download, allows users to get a detailed statement of their transaction history for the desired period. The service is available to all users without any cost. The company highlighted that the feature wi...

The Reserve Bank of India (RBI) recently announced an increase in limit of Unified Payments Interface (UPI) transactions for tax payments. The decision was made as a part of RBI’s Monetary Policy announcement last week. With this, users can now transact up to Rs. 5,00,000 while settling their tax liabilities. Earlier, this limit was kept at Rs. 1...

The Group of 20 finance leaders meeting this week for progress on a stalled plan to reallocate taxing rights on large multinational companies.The stakes in the negotiations are high. A failure to reach agreement on final terms could prompt several countries to reinstate their taxes on U.S. tech giants and risk punitive duties on billions of dollars...

The US and India have extended their standstill agreement till June 30, over the former's retaliation over India’s digital-services tax on big tech firms. The development was announced by the US ahead of a deadline for a global deal that will reallocate taxing rights for major US tech firms that provide digital services like Alphabet-owned Google...

India and the US have decided to extend a 2 per cent equalisation levy or digital tax on e-commerce supplies until June 30, the finance ministry said on Friday.

The Indian crypto circle has been waiting for FM Sitharaman to revise the tax laws imposed over the crypto sector. Despite the outcry, the finance minister did not announce any taxation relief for the crypto sector while presenting the interim annual budget earlier this year. Her re-appointment to the finance minister’s position has sparked conce...

The Karnataka government will embark on an ambitious project of digitising property tax records of all 20 lakh properties in Bengaluru and issue digital e-Khata (legal document issued to property owners) from fiscal year 2024-25.

Cryptocurrency brokers, including exchanges and payment processors, would have to report new information on users' sales and exchanges of digital assets to the Internal Revenue Service (IRS) under a proposed US Treasury Department rule published on Friday. The rule is part of a broader push by Congress and regulatory authorities to crack down on c...

Krafton India, makers of the popular online game BGMI, on Thursday pitched for government support measures to promote the online gaming industry in the country. Krafton India CEO Sean Hyunil Sohn highlighted subsidies given to gaming companies for labour costs by countries like the UAE and Canada and stated that innovative ways can be found to pro...

Digital payments and fintech platform PhonePe on Monday launched a feature to pay income tax through its app. Individuals and businesses can pay self-assessment and advance tax through UPI or credit card via the application, without logging into the income tax portal, PhonePe said.

Digital payments and fintech platform PhonePe on Monday launched a feature to pay income tax through its app.

Netflix's income from streaming services in India could soon be taxed by the government, according to an ET report. The streaming firm could be the first overseas digital company providing consumers with electronic commerce services to be taxed in India.

Xbox Game Pass memberships are finally available to buy at retail. Digital codes for Xbox Game Pass Ultimate and PC Game Pass are now up for purchase from Amazon at MRP, granting access to hundreds of games, an EA Play membership, cloud gaming, and an Xbox Live Gold subscription for online multiplayer. Xbox Game Pass Ultimate is available at Rs. 49...

A levy imposed by Britain on the revenues of big tech companies such as Google, Facebook and Amazon in 2020 as a stopgap measure pending an international tax agreement risks becoming permanent, a group of tax experts said on Wednesday.

Crypto exchanges and firms dealing with virtual digital assets must perform KYC of their clients and users on the platform, under new rules notified by the Finance Ministry earlier this week. Entities dealing in virtual digital assets are now considered 'reporting entities' under the Prevention of money laundering Act (PMLA).