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Online gaming industry in India has achieved great expansion in recent years. According to a 2017 KPMG report, online gaming industry in India is USD one billion opportunity by2021, from USD 290 million today. Online games that involve money, for example, Poker is recognized globally as a game of skills. There is an element of chance, which in all fairness plays a significant role in winning a hand, but Poker demands a high level of intellect and mental dexterity.
Gaming laws in India, exempt those kinds of games that require a degree of skills from the purview of gambling acts. These gaming legislations apply in all states with the exception of Assam, Odisha, Nagaland, Gujarat, Sikkim and Telangana. Over the past few decades, various litigations have been submitted in high courts, but various High Courts have upheld the Supreme Court's decision, stating that state or otherwise law enforcement authorities cannot interfere with the games played with real money. In 1996, Supreme Court affirmed earlier 1967 judgment, and ruled that games involving considerable preeminent degree of skill, fall in the definition of 'games of mere skill'. In addition, various judgements given by the apex court have also testified that playing games of skills is a fundamental right of citizen under the Indian constitution, thus Poker and other games cannot be prohibited.
1) We have studied extensively about the games that we offer. We ensure all our offered games are games of substantial skill. Our legal counsellors have detailed all gaming laws and regulations and our business complies with the present legal position in India. We further keep updating with the present litigations and comply with legal stands of the court of competent jurisdiction, government regulatory body, central or state government or law enforcement agency.
2) People from all states and union territories except Assam, Odisha, Nagaland, Gujarat, Sikkim and Telangana are allowed to play in our platform. Due to legal problem, we do not allow residents from these states to play in our platform.
If any resident belonging to Assam, Odisha or Telangana is found playing our platform by giving false information, we are not liable for the user(s), and we reserve the right to terminate his or her membership without any notice. Depending on the seriousness of the situation, we can confiscate all his deposits and winnings.
If a player wins more than Rs. 10,000 in a tournament, we are legally obliged to deduct tax at source (TDS). Under Section 194B of the Income Tax Act, 30% tax shall be deducted from a player's total prize winning in any given month exceeding Rs. 10,000
1) LYVE Games will bear TDS liability for players, and players will get a TDS certificate for the same at the end of each quarter.
2) We do not provide any advice or even are not responsible for individual tax matters.