Digital assets

TDS on cryptocurrencies from July 1: Onus on buyers for transactions outside exchange

The tax deducted from the seller will be required to deposit with the government.With this, the compliance burden will increase for the buyers.

published on : 29th June 2022

Cryptocurrency tax: CBDT's new guidelines stir confusion regarding GST 

"It is important that the government look at revising the guidelines to encourage entrepreneurship in the Web 3.0 sphere,” said Khaleelulla Baig, co-founder and CEO of Koinbasket.

published on : 24th June 2022

Tax deduction for crypto, digital assets; Central Board of Direct Taxes issues notification 

According to new guidelines, to avoid deduction of tax of digital assests at multiple stages, tax may be deducted only by the exchange which is crediting or making payment to the seller.

published on : 23rd June 2022

CBDT notifies TDS disclosure requirements for cryptocurrencies, virtual digital assets

CBDT has notified that the TDS collected under Section 194S shall be deposited within 30 days from the end of the month in which the deduction has been made.

published on : 22nd June 2022

Crypto industry still hopeful of changes in tax despite Finance Bill 2022

Despite the Lok Sabha passing the Finance Bill 2022, introducing a 30% tax on virtual digital assets (VDA) from April 1, the crypto industry still sees space for reasonable changes in tax policy.

published on : 30th March 2022

Government proposes 39 changes in Finance Bill; clarifies on crypto taxation

Proposes relaxation of penalty provision for claiming cess, surcharge as expenses 

published on : 25th March 2022

Blow to Crypto as govt says loss can’t be set off

Crypto exchanges call measures  “detrimental” for the industry

published on : 22nd March 2022

Crypto mining cost not to be allowed as deduction under I-T Act: FinMin 

In a written reply to the Lok Sabha, Chaudhary said the government will come out with a definition of virtual digital assets (VDA) with a view to levy 30 per cent tax on income from the transfer of su

published on : 21st March 2022

'Risky' disclaimer must for crypto ads: Advertising Standards Council

Advertising regulatory body issues guidelines for ads to be implemented from April 1; exchanges welcome the move.

published on : 24th February 2022

The Emergence of a New Asset Class

Whether this would help investors in making a rational choice while deciding whether to put their money in this risky asset class remains to be seen.

published on : 7th February 2022

Budget 2022: Tax on digital assets, indication of legitimisation

However, while the government’s acknowledgement of the virtual assets’ landscape seems promising, the tax levied on gains from  digital assets seems prejudiced.

published on : 2nd February 2022