Cryptocurrency

Breaking: Government To Give Big Update On Cryptocurrencies Through FAQs

If you invest in Cryptocurrency, then the government is going to give a big update on it soon. Actually, the government is working on FAQs i.e. frequently asked questions regarding taxation on cryptocurrencies. An official says that the FAQ will make things clear about levying Income Tax and GST on Virtual Digital Assets. The draft of the …

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These Eight Rules Changing From April Will Have Direct Impact On Your Pocket

These Eight Rules Changing From April Will Have Direct Impact On Your Pocket

Tax on PF account From April 1, the existing PF account can be divided into two parts, which will also be taxed. According to the rules, there will be no tax on contribution up to Rs 2.5 lakh in PF account. Interest earned on contributions above this will be taxed. GST e-Invoicing The Central Board …

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Cryptocurrency: Businessman Arrested For Cheating 900 Investors, Court Sent to ED Custody Till March 31

Cryptocurrency: Businessman Arrested For Cheating 900 Investors, Court Sent to ED Custody Till March 31

The Enforcement Directorate (ED) has arrested accused businessman Abdul Ghafoor from Kerala for duping people by luring them with three to five per cent returns per day by investing in cryptocurrencies. Gafoor was sent to ED custody till March 31 by the court. In this case, about 1200 crore rupees were cheated from 900 investors. …

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New Year Update: Tax On Earnings From Crypto

New Year Update: Tax On Earnings From Crypto

A major change from the first day of the new financial year i.e. April 1, 2022 is the tax on cryptocurrencies. In the Budget 2022-23, Finance Minister Nirmala Sitharaman had announced a 30 percent tax on all virtual digital assets or crypto assets. Under this, if the investor gains on selling crypto assets, he will …

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Alert: Government is Preparing To Bring Cryptocurrencies Under GST

Alert: Government is Preparing To Bring Cryptocurrencies Under GST

Now cryptocurrencies can also be brought under the purview of GST. The government is working on classifying cryptocurrencies as goods or services under the GST law to tax the entire value of transactions. At present, only services provided by crypto exchanges attract 18 per cent GST and are classified as financial services. GST officials say …

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Ignore Social Media Romours On Infosys's Crypto Project: Nandan Nilekani

Ignore Social Media Romours On Infosys’s Crypto Project: Nandan Nilekani

Since the imposition of tax on cryptocurrencies in the Union Budget of the country, various types of news are going on about it on social media. There are many types of misleading news going on regarding this, which is being spread with the aim of duping the investors.  Infosys co-founder Nandan Nilekani also denied a …

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All About Cryptocurrency Taxation Introduced in Budget 2022

All About Cryptocurrency Taxation Introduced in Budget 2022

Virtual Digital Assets (VDA) Defined (Section 2(47A) A new section 2(47A) is proposed to be inserted by Finance Bill’2022, which defines virtual digital assets to mean any information or code or number or token (not being Indian currency or any foreign currency) generated through cryptography which provides a digital representation of value exchanged with or …

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Crypto Exchange WazirX Raided For GST Evasion. Read Complete Details Here

Crypto Exchange WazirX Raided For GST Evasion. Read Complete Details Here

The Mumbai East Commissionerate of GST said that the country’s largest crypto exchange WazirX, which deals in cryptocurrencies, was evading GST for a long time. Revealing the tax evasion of these crores, the officials have now recovered a fine of more than Rs 49 crore after levying interest and penalty on the exchange. According to …

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GST Commissionerate unearth GST Evasion by cryptocurrency exchange WazirX

GST Mumbai East Commissionerate unearth GST Evasion by cryptocurrency exchange WazirX The Commissionerate have detected GST Evasion of Rs 40.5 Crores; recovered Rs 49.20 Crores in CashPosted Date:- Dec 31, 2021 The GST Mumbai East Commissionerate of Mumbai Zone, while investigating the business activities of cryptocurrency exchange WazirX have detected GST Evasion of Rs 40.5 Crores. …

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