India’s online gaming industry is poised to take off like never before. Considered to be one of the future pillars of the economy, the landscape of the online gaming industry has transformed during the and investments (in the following two years, it is expected to attract US$ 100 million in foreign direct investment). The growth in users from 250 million at the end of FY 2018 to 400 million by mid-FY 2020 has taken the market size of the online fantasy sports market to INR 24.3 billion.
Against this backdrop, Adarsh Somani, Partner and Sahil Kothari, Principal Associate at Economic Laws Practice (ELP) have co-authored an article titled ‘Tax – ‘The Bugbear for India’s Online Gaming Industry’ for MediaNama. In their article, Adarsh and Sahil have discussed the legal ambiguities in the online gaming sector. The article further delves into the Tax impediments, Industry impact and Expectations from the government.
Read the detailed article here: https://bit.ly/3sPS2Oh