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Income Tax Return 2019: Five last-minute tips for quick and easy ITR filing

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Income Tax Return

With the extended Income Tax Return (ITR) filing deadline of August 31, 2019 inching closer, taxpayers are on their toes trying to collate all their income, deductible expenditures and investments to ensure that they file their return on time to avoid penalty as well as save the maximum possible amount of tax.

Filing tax returns is mandatory for those having a total annual income of over Rs 2.5 lakh or tax is deducted at source (TDS) from income. It is an annual activity seen as a moral and social duty of every responsible citizen of the country. It is a means to be aware of different investment options and their respective benefits.

Income Tax Return

More than the financial gain, it inculcates a sense of responsibility and opens one to financial education which is otherwise included in the regular academic curriculum in Indian institutions, unless one enrolls oneself specifically for it.

ITR filing is pivotal in making one financially responsible, and it only starts with such small steps which build up one to know more about investment options. There are number of tax saving options available to lower tax liability. Various tax savings investment options among others include PPF, NPS, EPF, Life Insurance Premium, tax-saving Mutual Funds (ELSS). In the following months, individuals should maximize their benefits at the end of the financial year with the filing of returns, timely. And finally, make sure to file the return before the deadline as late filing involves a penalty.

It is always recommended to be cautious while taking the filing procedure. One should be careful about all the details and update them accordingly. While filling the forms one should be careful about the name, as it should match to that on the PAN card. If there is a mismatch in the spelling or omission/addition of a middle name, the return will not be processed. One should be fully aware of the tax deducted over the financial year, the investments made and the value of the assets one owns.

Rivers Casino to develop Waukegan venue

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Waukegan venue

The Illinois gambling expansion has shaken the gaming industry in the state. That’s why the developer, operator and owners of Rivers Casino Des Plaines are pushing to build a new venue.

Waukegan venue

The Rivers Casino Waukegan is a proposed 1,625-gaming-seat development. It would create over 2,100 jobs (permanent & construction) and pump US$150 million annually into the local economy.

Owners Churchill Downs Incorporated and Rush Street Gaming want to jointly develop a most successful gambling and entertainment venue.

“We’re happy to be considered to develop and operate what we know will be a leading entertainment destination for the City of Waukegan, Lake County and the State of Illinois,” said Rush Street Gaming CEO Greg Carlin. “It would be an honour to bring the Rivers brand and experience to Waukegan.”

“We are proud of our long history of hiring local people and vendors in every market where we have invested. Rush Street spends more than US$23 million annually on firms owned by women and minorities,” said Chairman Neil Bluhm. “We’re especially proud of our diverse workforce and the career opportunities we have provided our associates.”

“Waukegan and Lake County deserve a world-class facility and together, with our partner Churchill Downs Incorporated, that is exactly what we will develop,” said Bluhm. “We look forward to sharing more about our proposal with city leaders.”

“Churchill Downs Incorporated has a 145-year track record of offering unmatched premium entertainment experiences for horse racing fans, and significant expertise developing premier casino venues for our patrons throughout the United States,” said Bill Carstanjen, Chief Executive Officer of CDI. “We are proud to partner with Rush Street Gaming to bring our shared vision for a world-class entertainment destination to Waukegan.”

Oregon casino plans sports betting launch

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Oregon casino

Oregon wants to be part of the list of states in the US to launch sports betting operations. The Chinook Winds Casino in Lincoln City has revealed that its sportsbook will start operating on Tuesday, August 27.

 

Will RobOregon casinoertson, Chinook Winds director of casino operations, said that they’re expecting the casino to be busy on Tuesday. “There may be lines to get your bets in,” he said. Sports betting will only be available at the casino, despite the state allowing mobile sports betting.

Chinook Winds, owned by the Siletz tribe, hired Las Vegas Dissemination Co. as the technology provider for the sportsbook. The company is a national leader in pari-mutuel betting. In our search for a service provider, LVDC stood out from the start,” Robertson said.

The Oregon Lottery will kick off its own sports betting games, though this won’t happen before the start of the NFL season on September 5. Spokesman Matt Shelby said that they will launch two to three weeks into the season.

Parx Casino sets partnership with MLS team

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Parx Casino

Partnerships between gambling companies, casinos and sports teams in the United States are becoming more common, as all parties are interested in obtaining new sources of revenue. Parx Casino has announced a new partnership with Major League Soccer (MLS) team Philadelphia Union.

As a part of the agreement, Parx Casino® will be the Presenting Partner of the Halftime Show on all local broadcasts of Union games and will be activating on the Toyota Plaza at Talen Energy Stadium on game days.

Parx Casino

Through a press statement, the team revealed that fans who download the Parx app will be able to automatically enter to win prizes, including a grand prize of an all-inclusive trip for four to the Union’s away game against New York Red Bulls.

“Parx Casino® is the premiere destination for gaming and sports gambling, not only for the Philadelphia-area but for the state of Pennsylvania as a whole,” said Jean-Paul Dardenne, Senior Vice President of Corporate Partnerships at the Philadelphia Union. “We are confident that our fan-base will enjoy the added fun, perks and prizes of the Parx presence on game days.”

“We’re excited to partner with the Philadelphia Union and the fastest growing professional sport in the US,” said Marc Oppenheimer, Chief marketing Officer at Parx Casino®. “MLS looks to be a great partner for the emerging legalised sports betting business. We look forward to working with the Union to maximize the value for their franchise and Parx.”

Pennsylvania: Mini-casino at York Galleria moves one step closer

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Mini-casino

It’s one step closer for a mini-casino to move into the York Galleria. Springettsbury Township supervisors voted unanimously Thursday night to approve a request to redevelop a vacant portion of the York Galleria for the mini-casino. It is planned for the old Sears store.

Mini-casino

It’s one of the approvals that Penn National Gaming Inc. needs to open the venue at the mall site. The company still needs an OK from the state Gaming Control Board to move forward.

Residents and at least one business owner packed the public hearing that lasted more than an hour. Some expressed concerns about traffic, signage and children. A few said they do not want a mini-casino in their community.

“I hate to see the nature of the township change,” Joyce Troxell said after speaking before the board.

The state Gaming Control Board held a hearing on the proposed mini-casino for Springettsbury Township last fall, and the comments were overwhelmingly positive at that meeting.

Supervisors listened as representatives with Penn National presented plans and sketches for the mini-casino. Malls, such as the York Galleria, are looking for ways to reinvent themselves as retail sales move online, attorney Charles Courtney said.

“This project presents a unique opportunity to reinvigorate, reinvent, revitalize the mall,” he said.

Out with Hooters, in with Oyo: Off-Strip property to rebrand

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Oyo

A long-standing off-Las Vegas Strip hotel-casino will be transformed from a property geared toward NASCAR-loving middle America, complete with waitresses in skimpy skintight outfits serving plates of chicken wings, into a boutique luxury resort by a company known for its innovative, chic offerings.

Oyo

OYO Hotels & Homes, India’s largest lodging company, said Friday it would convert the Hooters Casino Las Vegas into the Oyo Hotel & Casino Las Vegas.

In a statement, Oyo Chief Operating Officer Abhinav Sinha said the company sees value in the property’s location a short distance from the Las Vegas Strip and nearby developments, including the $1.9 billion Allegiant Stadium, which will open in 2020 as the home of the relocated Oakland Raiders.

In a statement, Oyo said that New York-based management company Highgate would manage the 657-room hotel, while Las Vegas-based casino management firm Paragon Gaming would continue to manage the 35,000-square-foot casino.

“We’ve had great success managing the Hooters casino and look forward to continuing on as the casino manager and to partnering with Highgate to introduce Oyo’s hotel brand in Las Vegas,” Paragon Gaming Chairwoman Diana Bennett said in a statement.

According to the Wall Street Journal, Oyo and Highgate paid $135 million in June to acquire the Hooters property from Junius Real Estate Partners and Trinity Hotel Investors LLC. Hooters is located on Tropicana Boulevard, next to the Tropicana Hotel and Casino and across from the MGM Grand Las Vegas.

Cryptocurrency Exchange Security Levels

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Cryptocurrency

The growing interest in cryptocurrencies has led to the emergence of a wide selection of both digital money and the sites where you can exchange one cryptocurrency for another.

Some of these sites are peer-to-peer exchangers – users exchange directly with each other on terms that are discussed individually in each case. Such a system may be convenient for one-time operations, but entirely unsuitable for regular trading.

Cryptocurrency

Therefore, as the market develops, more and more transactions begin to be conducted through cryptocurrency exchanges. The daily trading volume of one of the largest cryptocurrency exchanges, Binance , is about $1.5 billion, and it’s competitors don’t lag.

The main risks for an investor using the services of cryptocurrency exchanges are their possible bankruptcy, commonplace fraud on the part of the exchange itself, and hacker attacks. It is possible to predict the unfair behavior of the exchange owners; however, you never know which cryptocurrency exchange is hacked next.

It’s impossible to enumerate all the cryptocurrency exchanges that were hacked. Some breached platforms don’t announce being hacked (looking at you, KipCoin); some even don’t know that they were breached and hackers continue to suck out money as happened with Mt.Gox. You can find a complete list of cryptocurrency thefts here that is created from all announced or discussed security breaches.

The focus of the audit was on such aspects as the responsibilities of security and management employees, password management systems, deposit and withdrawal systems, and wallet monitoring systems for unusual or suspicious transactions .

ICORating rated 135 crypto exchanges, whose daily trading volume exceeds $100.000, based on four security categories: user account security, domain security, web security, and protection against DDoS attacks .

Presedential candidate Andrew Yang proposes blockchain voting

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Andrew Yang

On the last season of the highly popular tv show, Billions there was a proposition for blockchain voting. The reasons behind this were primarily ease of access, security and ensuring a higher voter turnout. Whether this episode was at all related to 2020 Presidential candidate Andrew Yang’s proposal to make blockchain an underlying aspect of the 2020 voting process will likely never be ever confirmed, nor denied.

Andrew Yang

Yang is a lawyer with a strong connection to upcoming technology, and has always openly stated his pro-Bitcoin stance. He also wants clarity surrounding digital assets, an area that has always had a degree of uncertainty.

With the advancements of blockchain, the forward thinking candidate has expressed his disillusionment at how the system still uses voting booths. This outdated model has never really been updated and to the current day we see voting irregularities and constant needs for re-counts.

Low voter turn outs (~50%) would, in theory be “dramatically” higher if voters could place their selections via a mobile device. Security and votes would not need to be recounted either, in theory, it is the perfect system.

ICON bringing disruption into the Art industry: new deal with Yeolma

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ICON

ICON Foundation has just closed a new partnership with Yeolmae to create records of ownership for art pieces. The deal has been cherished by ICON’s community as the Iconloop’s “broof” service proves to be applicable to almost every type of industry.

ICON

The deal expresses that the record will be covering every little detail of the intellectual and artistic work and will prevent falsification. In its Medium Blog, the technical team describes the record in the following way:

“‘ARTnGUIDE’ contributes to the popularization of the investment in works of art and the market revitalization by providing the gateway to own high-priced art pieces, which have a high entry barrier in terms of price, with just a small amount of investments”

ICON seems to be quietly building its path to success, with its portfolio of clients now including Samsung, Mirae Asset and KB Kookmin Bank.

Is Bitcoin Gambling Legal?

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Bitcoin Gambling Legal

The internet revolution wouldn’t have been complete without online gambling that makes it convenient for you to play from the comfort of your home whenever you want. Bitcoin gambling makes this experience even greater, bringing unique games to the fore, quick transactions and a degree of privacy that fiat cannot offer. But is Bitcoin gambling legal?

Bitcoin Gambling Legal

The question of whether Bitcoin gambling is legal or not is composed of at least 3 underlying questions: 1. Is gambling legal where you live? 2. Is Bitcoin legal where you live? 3. Does it really matter if any of those are legal if I am using an asset like Bitcoin, which is decentralized and doesn’t care about the law of the land?

Jurisdiction is the most important issue when dealing with any kind of gambling. Bitcoin casinos are not different. In the US for instance, the rules that apply to each individual depend on where they reside and where they are when they choose to play.

This puts any kind of online casino in the US within a grey area. When it comes to Bitcoin casinos, the problem might be even deeper. If the exchange of a commodity which is not regulated like other commodities that are publicly traded, is not deemed to be a financial transaction, then bitcoin casinos should be legal in the US.

Another interesting jurisdiction to look at is the United Kingdom. In a sense, regulation of online gambling in the UK is laxer than in the US. When it comes to Bitcoin, the FCA lists it as an unregulated digital asset, but Bitcoin transactions are taxable depending on their nature. Some of these regulations might change when the UK leaves the European Union – Brexit.

Regardless of whether it is legal or not, more gamblers are taking their chances and are gambling with Bitcoin using VPN services. They do so primarily to circumvent the fencing mechanisms that casinos have in place to keep gamblers from jurisdictions in which they do not have a license, from using their services. That is, if the casino is at all licensed. There are plenty of Bitcoin casinos that are not licensed, and players do not require VPN to gamble on them, because they have no interest in placing any barriers based on the player’s location.