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The guidance sets out procedures for identifying reportable users, determining account ownership in different cases, and addressing reporting obligations for cross-border transactions.
Enforcement Directorate (ED), Directorate General of GST Intelligence (DGGI) actions against online gaming and fintech companies in last couple of months.
The ruling effectively validates tax demands running into nearly Rs 2.5 lakh crore, including penalties, against gaming companies.
Over the past three months, officials from 6-7 fintech firms, including Fino Payments Bank, have been arrested, sent to custody, had their offices searched, or bank accounts frozen in connection with illegal gaming tax evasion cases.
The development comes three days after the Telangana High Court dismissed a writ petition filed by Gupta, challenging his arrest.
After multiple adjournments, a division bench comprising Chief Justice Aparesh Kumar Singh and Justice G.M. Mohiuddin dismissed the writ petition filed by Gupta.
The tax issue traces back to Pine Labs' 2019 purchase of Qwikcilver Solutions.
Tax officials highlighted several challenges in regulating these digital assets during discussions with the parliamentary standing committee on finance.
Clear's net loss remained flat at Rs 95.62 crore in FY25 while total expenditure jumped 19% year-on-year.
"We undertook broader strategic organisational restructuring, impacting around 16% of our workforce, including a small number of early-career employees," the company said.
The ruling, made earlier this week, relates to alleged tax dues of Rs 154.8 crore and penalties of Rs 15.48 crore for the period between July 2017 and March 2022.
Finance Minister Nirmala Sitharaman presented Union Budget 2025-26 in the Parliament today.
InsuranceDekho founder and CEO Ankit Agrawal and other top officials of the startup were not present in the office at the time of raid.
The company cut down its total expenses by 9.8% to Rs 310 crore in FY24, against Rs 343.67 crore reported in the previous fiscal.
The new funding will be used to enhance AI capabilities, expand customer acquisition, and grow the workforce.
