The Enforcement Directorate has attached assets worth Rs 11.14 crore of ex-cricketers Suresh Raina and Shikhar Dhawan in the 1xBet illegal betting case. ED alleges both stars endorsed the platform for foreign payments linked to money laundering.
The Supreme Court of India dismissed a Public Interest Litigation by MP Mahua Moitra aimed at enhancing transparency in financial markets concerning Alternative Investment Funds (AIFs) and Foreign Portfolio Investors (FPIs). The petition emphasized disclosure of ultimate beneficial owners, arguing that the current opacity raises risks of market manipulation, money laundering, and economic instability.
Today, On 24th January, The Supreme Court dismissed a PIL filed by Ashwini Kumar Upadhyay challenging the constitutionality of Tax Deducted at Source (TDS) provisions. The petition argued that TDS imposes undue administrative and financial burdens on taxpayers. However, the court rejected these concerns, emphasizing the importance of TDS in ensuring tax compliance. This decision reinforces the legal validity of the current TDS framework.
In July, the Supreme Court will address challenges to the 28% Goods and Services Tax (GST) on online gaming companies. Several petitions contest the tax’s validity and its impact on the industry. The court will hear concerns raised by Baazi Networks Private Limited and other online gaming companies and address pending petitions. The tax notices were issued retrospectively, alleging GST evasion of Rs 1.12 lakh crore.