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Apple Loses Court Battle in EU, Ordered to Pay Over $14 Billion in Back Taxes to Ireland
The European Court of Justice has now sided with Vestager, agreeing Apple had unduly benefited from unfair loopholes in Ireland's tax regime, and that the company must now hand Ireland EUR 13 billion roughly Rs. 1,20,903 crore) in back payments.
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Telugu Thriller Brinda’s Director Surya Manoj Vangala Opens Up About the Series, Religious Extremism, and More
In a thought-provoking conversation with Gadgets360, Surya Manoj Vangala shares the inspiration behind his show Brinda, the emotionally taxing research it took, the intended audience, his views on extremism, and more.
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RBI Raises UPI Limit to Rs. 5 Lakh for Tax Payments, Introduces Delegated Payments Feature
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...
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G20 Prioritises Discussions on Digital Tax Amid Looming Tariff Threats from US
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...
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US, India Extend Digital Tax Truce to June 30 as Deadline Approaches
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...
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Apple Set to Face Over $500 Million Fine After EU Finds It Broke Rules to Silence Spotify, Other Rivals
Apple will face a European Union fine close to EUR 500 million ($539 million or roughly Rs. 4,475 crore) over the regulator’s investigation into allegations it silenced music-streaming rivals, including Spotify Technology SA, on its platforms.
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Coyote vs. Acme May Get New Distributor After Warner Bros. Shelves Project, Amazon Said to Be Prime Candidate
Warner Bros. will now allow Coyote vs. Acme to be shopped to other studios, following backlash from filmmakers. The live-action-animation hybrid film was originally planned as an HBO Max release and last weekend, the studio decided to shelf it as a tax write-off. Principle photography on the $72 million movie was complete, and now it will see the l...
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Betting-Based Online Gaming Firms Said to Face Rs. 1 Lakh Crore GST Notices
India's online gaming industry has received show-cause notices amounting to Rs. 1 lakh crore say sources. The notices come even as the industry has raised concerns on the applicable GST Rates.
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National Cinema Day 2023: Movie Tickets to Cost Just Rs. 99 on October 13
Movie tickets in Indian theatres will cost just Rs. 99 on October 13, in celebration of National Cinema Day. Marking the second year of the event, discounts will be offered across more than 4,000 participating theatres including PVR Inox, Cinepolis, Movie Time, and more. It’s unclear whether the said amount includes taxes and internet fees levied...
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Parliament Passes Bill to Levy 28 Percent GST on Online Games; Offshore Gaming Firms to Need Registration
Parliament on Friday approved amendments to the Central and Integrated GST laws to levy 28 percent tax on the full face value of bets in online gaming, casinos and horse race clubs. The CGST amendment bill defines 'online gaming' as a game on the internet or an electronic network.
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ITR Filing Deadline Is Here: How to File Income Tax Return Online in Simple Steps
ITR (Income Tax Return) filing deadline for the assessment year 2023-24 is July 31. With the last date just around the corner, a lot of taxpayers are rushing to file their returns. The Income Tax department has not announced any extension on the last date for filing the ITR, hence leaving taxpayers with less than five days to complete the process.
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Indian Games Industry Calls for Distinction From Real Money Games in Letter to PMO Over 'Online Games' Tax
Over 45 video game companies in India, representing the games industry in the country, have written to the Prime Minister’s Office, Ministry of Electronics and Information Technology, and the Ministry of Information and Broadcasting to address the ambiguity surrounding 'online gaming' and drawing a clear distinction between video games and real m...
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Tiger Global, Other Investors Ask Indian Government to Reconsider Online Gaming Tax, Cite Investment Risk
Tiger Global, Peak XV and Steadview Capital are among 30 foreign and domestic investors asking Indian Prime Minister Narendra Modi to review a 28 percent gaming tax, saying the levy would adversely impact $4 billion (roughly Rs. 32,800 crore) in prospective investments, a letter showed.
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Bengaluru Man Rants About Paying "50% Of Income As Tax", Internet Agrees
Mr Goyal broke down the taxes imposed by the government on basic products including sugar, cream, and a choco-bar.
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India’s New Online Gaming Tax Will Stifle Foreign Investment, Put $2.5 Billion Investment at Risk: Gaming Firms
India's new 28 percent tax on online gaming companies will stifle foreign investment and put $2.5 billion (roughly Rs. 20,500 crore) already invested in the sector at risk, more than 100 gaming firms have said in a letter to India's finance ministry.
-
Apple Loses Court Battle in EU, Ordered to Pay Over $14 Billion in Back Taxes to Ireland
The European Court of Justice has now sided with Vestager, agreeing Apple had unduly benefited from unfair loopholes in Ireland's tax regime, and that the company must now hand Ireland EUR 13 billion roughly Rs. 1,20,903 crore) in back payments.
-
Telugu Thriller Brinda’s Director Surya Manoj Vangala Opens Up About the Series, Religious Extremism, and More
In a thought-provoking conversation with Gadgets360, Surya Manoj Vangala shares the inspiration behind his show Brinda, the emotionally taxing research it took, the intended audience, his views on extremism, and more.
-
RBI Raises UPI Limit to Rs. 5 Lakh for Tax Payments, Introduces Delegated Payments Feature
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...
-
G20 Prioritises Discussions on Digital Tax Amid Looming Tariff Threats from US
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...
-
US, India Extend Digital Tax Truce to June 30 as Deadline Approaches
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...
-
Apple Set to Face Over $500 Million Fine After EU Finds It Broke Rules to Silence Spotify, Other Rivals
Apple will face a European Union fine close to EUR 500 million ($539 million or roughly Rs. 4,475 crore) over the regulator’s investigation into allegations it silenced music-streaming rivals, including Spotify Technology SA, on its platforms.
-
Coyote vs. Acme May Get New Distributor After Warner Bros. Shelves Project, Amazon Said to Be Prime Candidate
Warner Bros. will now allow Coyote vs. Acme to be shopped to other studios, following backlash from filmmakers. The live-action-animation hybrid film was originally planned as an HBO Max release and last weekend, the studio decided to shelf it as a tax write-off. Principle photography on the $72 million movie was complete, and now it will see the l...
-
Betting-Based Online Gaming Firms Said to Face Rs. 1 Lakh Crore GST Notices
India's online gaming industry has received show-cause notices amounting to Rs. 1 lakh crore say sources. The notices come even as the industry has raised concerns on the applicable GST Rates.
-
National Cinema Day 2023: Movie Tickets to Cost Just Rs. 99 on October 13
Movie tickets in Indian theatres will cost just Rs. 99 on October 13, in celebration of National Cinema Day. Marking the second year of the event, discounts will be offered across more than 4,000 participating theatres including PVR Inox, Cinepolis, Movie Time, and more. It’s unclear whether the said amount includes taxes and internet fees levied...
-
Parliament Passes Bill to Levy 28 Percent GST on Online Games; Offshore Gaming Firms to Need Registration
Parliament on Friday approved amendments to the Central and Integrated GST laws to levy 28 percent tax on the full face value of bets in online gaming, casinos and horse race clubs. The CGST amendment bill defines 'online gaming' as a game on the internet or an electronic network.
-
ITR Filing Deadline Is Here: How to File Income Tax Return Online in Simple Steps
ITR (Income Tax Return) filing deadline for the assessment year 2023-24 is July 31. With the last date just around the corner, a lot of taxpayers are rushing to file their returns. The Income Tax department has not announced any extension on the last date for filing the ITR, hence leaving taxpayers with less than five days to complete the process.
-
Indian Games Industry Calls for Distinction From Real Money Games in Letter to PMO Over 'Online Games' Tax
Over 45 video game companies in India, representing the games industry in the country, have written to the Prime Minister’s Office, Ministry of Electronics and Information Technology, and the Ministry of Information and Broadcasting to address the ambiguity surrounding 'online gaming' and drawing a clear distinction between video games and real m...
-
Tiger Global, Other Investors Ask Indian Government to Reconsider Online Gaming Tax, Cite Investment Risk
Tiger Global, Peak XV and Steadview Capital are among 30 foreign and domestic investors asking Indian Prime Minister Narendra Modi to review a 28 percent gaming tax, saying the levy would adversely impact $4 billion (roughly Rs. 32,800 crore) in prospective investments, a letter showed.
-
Bengaluru Man Rants About Paying "50% Of Income As Tax", Internet Agrees
Mr Goyal broke down the taxes imposed by the government on basic products including sugar, cream, and a choco-bar.
-
India’s New Online Gaming Tax Will Stifle Foreign Investment, Put $2.5 Billion Investment at Risk: Gaming Firms
India's new 28 percent tax on online gaming companies will stifle foreign investment and put $2.5 billion (roughly Rs. 20,500 crore) already invested in the sector at risk, more than 100 gaming firms have said in a letter to India's finance ministry.
