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Webinar to discuss taxation and fema related aspects of gaming activities on 13th September

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To clarify various queries on under the new Black Money law and general doubts on compliances under the Foreign Exchange Management and Income Tax Acts, iPleaders in association with GLaws.in and Pokerguru is organising a webinar with Sunil Agarwal, Senior Tax Partner at AZB & Partners and former Additional Commissioner of Income Tax on 13th September from 11 am- 12:30 pm.  The first-of-its-kind interactive session will be followed by a Q & A session with the expert.

Agenda of the Webinar:

1. Discussion on whether depositing and withdrawing winnings on offshore/international online gaming, poker websites etc. through e-wallets such as Neteller or directly amount to violation of Schedule I of the Foreign Exchange Management Current Account Transaction Rules.  Structuring alternatives available, if any.

2. Compliances under the new “Black Money Law” with regard to gambling/betting winnings remitted through e-wallets/directly from such websites particularly having regard to the clarification given in the recent Black Money circular.

3. Penalties under the legal framework, i.e. Black Money, Income Tax Act and FEMA and what you need to be wary of.

4. Taxation and disclosure of winnings from offshore/Indian poker and gaming websites when: (i) TDS is deducted by such websites and (ii) if no TDS is deducted. Possible ways to structure remittance of winnings to minimise taxation liability.

5. Taxation on winnings in physical casinos outside India when:

(a) such winnings are taxed at source in that foreign jurisdiction and India has a Double Taxation Avoidance Agreements (DTAA) with that country, and

(b) when India does not have a DTAA with that country.

(c) ways to structure channelizing the winnings to minimize tax liability in India.

Steps for Registering

1. Log on to – http://ipleaders.glaws.in/webinar-black-money

2. Click on – “Sign Up Now”

3. Make one-time payment of Rs. 1,020

On successful registration, users will receive a confirmation email along with the login credentials to join the webinar. The webinar has been limited to 60 participants only and carries a registration fee of Rs. 1,020.

Jay has researched extensively on gaming laws and has been cited by various media houses and journals as an expert. He has helped leading newspapers in their stories on gaming laws. Jay completed his B.A. LL.B. (Hons.) degree from NUJS, Kolkata in 2015 and is currently based out of Mumbai.

10 Comments

10 Comments

  1. Mukesh

    September 9, 2015 at 8:02 pm

    Will queries be answered ??

    • Jay Sayta

      September 10, 2015 at 12:13 pm

      Yes there is a Q & A session where queries will be answered.

  2. sneh

    September 10, 2015 at 7:19 pm

    I have registered but havent got any link with the login.

    • Jay Sayta

      September 10, 2015 at 7:42 pm

      You will get the link before the start of the session on Sunday.

  3. Anuj

    September 13, 2015 at 2:18 pm

    Thanks for the webinar guys, btw I just had a look at your article West Bengal gambling Act, 1957. It says poker and other skill based card games has been exempted from the West Bengal Prize Competition and Gambling Act, 1957, so does that mean FEMA will not apply to West Bengal residents if remittance has been made for poker which is a game of skill according to this Act? Am I correct to say this?

    • Jay Sayta

      September 13, 2015 at 4:26 pm

      Thanks Anuj. The FEMA Current Account Transaction Rules use very broad terms like lottery, sweepstakes, hobby etc. While it will depend on the interpretation taken by the authorities, potentially games like poker will be included within the prohibited category will be included in the ambit.

  4. Donnie

    September 17, 2015 at 5:57 am

    Nice article on on FEMA issues! Let me know if you would look forward to guest posts.

  5. shobit

    September 19, 2015 at 5:09 pm

    Hey
    somehow i missed this. can we get a small summary of what was discussed? how to save ourselves from the penalties? Jay please revert if possible. For those who missed the webinar whats the solution.?

    • Jay Sayta

      September 20, 2015 at 10:04 am

      We will try to publish a summary of the discussion and agenda soon.

  6. devdutt

    November 30, 2016 at 3:21 pm

    Fema issues covered at good depth…thanx.

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