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Crypto trading volumes in India have plummeted following the new tax law entering into force. The new rules impose a 30% flat tax on crypto income and do not allow losses to be offset against gains. New Crypto Tax Rules in Effect The new crypto tax rules entered into force on April 1 after the … Read more
India’s new crypto tax policy is based on its gambling and lottery ticket win tax rules, that is set to come into effect from April 1. Go to Source Powered by WPeMatico
In partnership with LegitDoc, the Maharashtra government is in the process of rolling out 65,000 caste certificates to aid the process of delivering governmental schemes and benefits. Go to Source Powered by WPeMatico
An Indian parliament member has urged the government to increase the tax on crypto income from the current proposed rate of 30%, stressing that crypto trading is similar to gambling. He has also requested that the goods and services tax (GST) be imposed on the total transaction value of crypto. Indian Parliament Member Wants to … Read more
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 Crypto Exchanges Investigated for Tax Evasion The Indian government answered some questions regarding the taxation of cryptocurrency exchanges Monday in Lok Sabha, the lower house … Read more
Some jurisdictions are introducing digital assets as tax payment options while others levy hefty taxes on crypto gains. Go to Source Powered by WPeMatico
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. Go to Source Powered by WPeMatico
India’s crypto tax policy is set to become law on March 24. However, stakeholders believe it could eradicate small-time traders and derail the thriving industry. Go to Source Powered by WPeMatico
First announced by India’s finance minister in February, the amendment to existing laws proposed a 30% tax targeting digital asset transactions. Go to Source Powered by WPeMatico
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 transactions will be taxed at 30% while losses cannot be deducted. Indian Government Reveals Taxation Plan The Indian ministry of finance answered some questions Monday … Read more