TDS guidelines for gaming companies may require greater disclosure

The move is aimed at improving reporting and transparency in these sectors

The revenue department is preparing detailed guidelines on the taxability of the online gaming sector in a bid to ensure that the game host deducts tax on the entire winning amount even if it offers the sum in the form of coupons, tokens, or as other non-cash payments, said a senior government official in the know.

For this, online gaming companies may be required to furnish detailed disclosures, including prize pool, dates on which winnings were paid or credited to players, and mode of the prize -- whether in cash or as other considerations, under the TDS provision. TDS stands