Auto Added by WPeMatico
The Indian government has revealed that 11 cryptocurrency exchanges have been under investigation by the country’s tax authority. About 95.86 crore rupees ($12.6 million) have been recovered from them. 11…
Some jurisdictions are introducing digital assets as tax payment options while others levy hefty taxes on crypto gains.
The evasion of Goods and Services Tax (GST) by crypto exchanges was figured in the Indian Parliament on March 28. Minister of State for Finance Pankaj Chaudhary informed that 11…
The lack of knowledge among common investors about cryptocurrencies and how to safely invest in them is resulting in a growing number of frauds. In a recent example, the Crime…
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.