Recent updates in the income tax landscape have introduced significant changes, particularly with the introduction of the new tax regime. These revisions aim to simplify the process while offering lower rates for taxpayers. However, they come with fewer exemptions and deductions, making it essential to understand the implications fully. For the financial year 2025-26, the revised slab rates […]
Introduction In India, the taxation system has undergone significant reforms, and one of the most important provisions for the lottery industry is Section 194G of the Income Tax Act.This section deals with Tax Deducted at Source (TDS) on commissions earned from lottery tickets. For lottery agents, distributors, and operators, understanding this rule is crucial. It
India is gearing up for one of its most significant tax reforms in decades — the Direct Tax Code (DTC) — set to replace the Income Tax Act of 1961. Slated for implementation by April 2025, the DTC aims to simplify tax laws, widen the taxpayer base, and bring India’s taxation framework closer to global
