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Under the framework, those conducting crypto transactions will be subject to a 30% tax starting on April 1, while the 1% TDS requirement will take effect on July 1.
First announced by India's finance minister in February, the amendment to existing laws proposed a 30% tax targeting digital asset transactions.
India’s ministry of finance has clarified in parliament how the government plans to tax cryptocurrency transactions. A proposed new section to the Income Tax Act states that gains from crypto…
The government intends to treat each crypto trading pair transaction separately, deterring traders as the gov't would only tax their profits without accounting for the losses.
It appears the root cause of concern is the potential for digital assets to disrupt the rise of India as a global power.
The Indian government has told parliament that it does not have a plan to issue cryptocurrency to be regulated by the central bank, the Reserve Bank of India (RBI). The…
A runner and Bitcoin hodler from India is on a mission to travel to 40 countries in 400 days using Bitcoin only.
India’s income tax department has reportedly identified about 700 cryptocurrency investors who have failed to pay taxes on high-value crypto transactions. “We have a long list of people who were…
BitConnect founder is being sued for illegally raising funds and defrauding American investors of over $2 billion.