India’s crypto tax is a gov’t attempt to ‘displace’ the tech — Lawyer
Legal practitioner Amit Kumar Gupta told Cointelegraph that the Indian government’s stance on crypto reflects a lack of understanding of the technology. Go to Source
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India’s crypto future hinges on DEA’s September consultation paper
The DEA’s paper is expected to be a watershed moment for India’s crypto regulation, potentially setting the stage for comprehensive legislation. Go to Source
Indian Government Introduces New Crypto Tax Penalties
The Indian government has introduced new crypto tax penalties, including for non-payment of crypto tax deducted at source (TDS). Much to the disappointment of the crypto community, Finance Minister Nirmala Sitharaman did not mention crypto in her Budget speech this year. Crypto income remains taxed at 30% while TDS stays at 1%. No Crypto Tax … Read more
Indian Government Working on How GST Tax Could Be Applied to Crypto
India’s ministry of finance is reportedly working on how the goods and services tax (GST) could apply to crypto transactions. “A better understanding of how cryptocurrencies fit into our legal system is the prerequisite for the decision on the GST rate,” a source told local media. India’s Goods and Services Tax Could Soon Apply to … Read more
India Considers Imposing 28% GST on All Crypto Transactions: Report
The Indian government is reportedly considering imposing a 28% goods and services tax (GST) on all crypto transactions. “Currently tax is levied only on the part of the services provided by crypto exchanges. Subjecting the whole transaction to tax at a higher slab of 28% could give the markets a free fall,” one tax expert … Read more
IMF Official: Regulating Crypto Assets Is High on the Agenda for India
A director at the International Monetary Fund (IMF) says that crypto regulation is “certainly high on the agenda” for India. “We are trying to come up with global standards for #crypto asset regulations. I think that’s important for India to also adopt,” said the IMF official. IMF on Crypto Regulation in India Tobias Adrian, Financial … Read more
India’s Crypto Trading Volume Plummets as New Tax Rules Enter Into Force
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
