Tax Tips

As Cricket World Cup 2023 is gaining momentum, illegal betting activities are also picking up steam with crores of rupees invested through informal routes leading to a loss of about Rs 2 lakh crore to tax authorities, a report said. The illegal sports betting market receives an estimated inflow of Rs 8,20,000 crore (USD 100 billion) per annum from India, according to Think Change Forum (TCF) report. Factors such as digital infrastructure growth, smartphone usage, and the expansion of athletic events have contributed to this kind of inflow, it said. Despite regulatory restrictions, India's illegal betting and gambling market has shown remarkable growth, it said. According to the report at a baseline estimated deposits of Rs 8,20,000 crore being for betting at current GST rate of 28 per cent, India is losing Rs 2,29,600 crore per annum. To restrict such activities, the report suggested strict implementation of the new GST regime by establishing a task force to monitor illegal offsho

When an employer when employees a person, he specifies his cost to the company (C.T.C). It means that the organization is going to spend that much amount per year to employ that person

Evaluate recurring investment products and do the numbers before making any investments