New TDS Provisions For Online Gaming And Impact- Explained

The flourishing online gaming industry was mentioned in the Union Budget 2023, which came with proposed TDS changes. Examining the changes in TDS, the tax law firm Lakshmikumaran & Sridharan (LKS) appreciates the government’s drive to give clarity on direct taxation of online gaming, highlights the expected difficulties, and their impact on users and industry, and proposes answers to address the same.