Exclusive: How Maharashtra tried opening casinos two decades before any other state and passed historic legislation during emergency

Exclusive Digging through the archives in the Maharashtra Law & Judiciary Department it has been found out that the state legislative assembly of Maharashtra passed a historic and visionary piece of legislation in 1976; during the height of national emergency. The Maharashtra legislative assembly had passed The Maharashtra Casinos (Control …

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Currency of the year Bitcoin gains popularity for online gaming transactions, will the Indian government regulate and prohibit Bitcoin transactions?

Virtual Peer-to-Peer currency Bitcoin generated a great deal of media attention this week as the value of the virtual currency increased exponentially after the Cyprus bailout and Eurozone crisis (the total value of Bitcoins in circulation was approximately US $ 2.6 Billion as on last week), where investors supposedly pulled …

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FAQ on taxes and gambling winnings

Despite the earlier post  giving various provisions on taxes on gambling winnings, we have been receiving hundreds of queries seeking clarifications on the amount of tax to be paid on gambling winnings and different circumstances under which an exception can be sought from paying tax at source on gambling winnings. …

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Jolt to poker players as Goa casinos change their policy, deduct TDS on tourney winnings + Goa govt notifies Anti Money-Laundering Guidelines

Major Goa casinos have recently changed their in-house policy on tournament winnings and will now deduct a 30% Tax Deducted at Source (TDS) on tournament winnings in compliance with Section 194B of the Income Tax Act, 1961. (See our earlier report here.) Tanmaya Nanda, Public Relations Officer of  Delta Corp, …

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Northern Ireland- welcome reforms in gaming laws

Many countries in the world have begun to change their gambling laws. After Singapore recently changed its Casino Control Act, now Northern Ireland, a province of the UK, is amending its gambling laws. The authorities have stated that the change of law will ensure higher level of protection of minors …

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