central board of direct taxes

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India’s Tax Department Issues Notices to 100,000 Crypto Investors

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India’s Income Tax Department recently announced that it has issued notices to 100,000 cryptocurrency investors. The announcement came in light of government surveys into the operations of multiple leading Indian exchanges that have revealed widespread tax evasion on the part of India’s cryptocurrency traders. Also Read: India’s Finance Minister Confirms Crypto Not Recognized as Legal Tender, … Read more

India’s Finance Minister Confirms Crypto Not Recognized as Legal Tender, Media Panics

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India’s Finance Minister, Arun Jaitley, has confirmed that the country’s government will not recognize cryptocurrencies as legal tender, adding that authorities will seek to ramp up efforts to “eliminate” the use of virtual currencies in illicit transactions. Mr. Jaitley’s comments have been misconstrued and embellished throughout the mainstream media, with numerous reports proclaiming that India’s … Read more