Budget 2025 and your finances: Check this comprehensive guide for impact on salaries to crypto to rent
1 month, 3 weeks ago

Budget 2025 and your finances: Check this comprehensive guide for impact on salaries to crypto to rent

Live Mint  

The Union Budget’s announcement of the new ₹12,00,000 tax slab has created quite a buzz, bringing cheer to many taxpayers. New Tax Regime Vs. Old Tax Regime for year 25-26 The table compares income tax liabilities under the New Tax Regime and old tax regime for the Financial Years 2025-26, emphasizing the tax savings resulting from changes in tax rates and slabs. New tax regime vs old tax regime The tax savings are calculated as the difference between the taxes paid in FY 2025-26. New Regime Comparison FY 24-25 & 25-26 The below table compares the income tax payable under the New Tax Regime for two financial years: FY 2024-25 and FY 2025-26, and shows how much tax is saved in the latter year. The table presents a comparison of income tax liabilities under the New Tax Regime for FY 2024-25 and FY 2025-26, highlighting the tax savings resulting from revised slab rates.

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History of this topic

Crypto & The Indian Economy: How New Income Tax Bill Marks A Pivotal Moment
2 weeks, 5 days ago

Crypto & The Indian Economy: How New Income Tax Bill Marks A Pivotal Moment

ABP News  

By Vikram Subburaj Digital assets in India have evolved into a complex intersection of technological innovation, regulatory calibration, and fiscal oversight. Recent developments, notably the Union government’s initiative to draft a comprehensive concept paper on crypto and the introduction of the Income Tax Bill, 2025, in the Lok Sabha, signal a pivotal moment in India’s crypto journey. Income Tax Bill, …

Crypto tax cuts in Budget 2025? Indian industry hopes for relief from FM Nirmala Sitharaman
2 months, 1 week ago

Crypto tax cuts in Budget 2025? Indian industry hopes for relief from FM Nirmala Sitharaman

Live Mint  

As the Union Budget 2025 approaches, the cryptocurrency industry in India anticipates a more favourable tax and regulatory environment. Crypto sector seeks income tax reforms ahead of Union Budget 2025 "The 1% TDS on crypto transactions led many investors and traders to turn towards foreign exchanges, making it harder for the government to track activity. A reduction of TDS down …

Crypto Tax Gets Clarity, ITAT Rules VDAs To Be Recognised As Capital Assets. Check Out New Framework For Profits
3 months, 1 week ago

Crypto Tax Gets Clarity, ITAT Rules VDAs To Be Recognised As Capital Assets. Check Out New Framework For Profits

ABP News  

The Income Tax Appellate Tribunal in Jodhpur has provided much-needed clarity on the taxation of cryptocurrencies in India. By recognising crypto as capital assets, it provides much-needed relief for investors who sold crypto before 2022, allowing them to benefit from long-term capital gains tax rates. For investors, this means that any profits made from selling cryptocurrencies will now be subject …

Cryptocurrencies to be taxed as capital gains: Relief for pre-FY23 earnings
3 months, 1 week ago

Cryptocurrencies to be taxed as capital gains: Relief for pre-FY23 earnings

India Today  

The Income Tax Appellate Tribunal in Jodhpur has clarified how cryptocurrency profits should be taxed in its ruling in Tuesday. TAXATION BEFORE AND AFTER 2022 Pre-2022 transactions: Before the Virtual Digital Assets regulations came into effect in 2022, profits from crypto sales were categorised as capital gains, much like profits from stocks or real estate. Investors holding cryptocurrencies for more …

Cryptocurrency tax in India: Know how much you will have to pay on Crypto investments
3 months, 2 weeks ago

Cryptocurrency tax in India: Know how much you will have to pay on Crypto investments

India TV News  

Following Donald Trump’s victory in the US presidential elections, the value of cryptocurrencies, including Bitcoin, has skyrocketed. Heavy 30 per cent Tax on Gains In India, cryptocurrencies aren't formally identified as legal tender under the Income Tax Act’s Section 2, which classifies them as Virtual Digital Assets. These provisions mandate: A flat 30 per cent tax on profits earned from …

Union Budget 2024: As Crypto Taxes Remain Unchanged, Here Are Top Takeaways For Investors & Market
8 months ago

Union Budget 2024: As Crypto Taxes Remain Unchanged, Here Are Top Takeaways For Investors & Market

ABP News  

Union Budget 2024: Finance Minister Nirmala Sitharaman in her Budget presentation made a pivotal decision to retain the current tax rates on virtual digital assets. One of the primary concerns is that the current tax regime could act as a deterrent for new investors. New investors, particularly those from outside the country, may find the tax implications challenging or discouraging, …

Crypto Tax In India: The Current State & How Union Budget 2024 Can Help
8 months, 1 week ago

Crypto Tax In India: The Current State & How Union Budget 2024 Can Help

ABP News  

As the global crypto markets are on a bull run, the excitement among Indian investors is also palpable. With the Union Budget 2024 on the horizon, understanding the current tax framework and anticipating potential changes can help investors make informed decisions and optimise their portfolios. Anticipated Changes In Union Budget 2024 As we approach the Union Budget 2024, several potential …

Decoding crypto reporting requirements in new income tax return forms
1 year, 10 months ago

Decoding crypto reporting requirements in new income tax return forms

Live Mint  

The government has finally, via the Finance Act of 2022, included taxation of cryptocurrencies or virtual digital assets in the Income Tax Act and laid out some key aspects around how much tax one has to pay on the gains, whether losses can be set off and which expenses to claim as deduction from gains arising from the sale of …

Navigating the complexities of crypto taxation in India
2 years ago

Navigating the complexities of crypto taxation in India

Live Mint  

There is an adage which encapsulates the process of taxation, and it goes thus: the only two things certain in life are death and taxes. Navigating crypto from a tax angle We believe that Indian crypto investors can become tax compliant and plan their investments better by following certain principles. Building a crypto portfolio: India’s crypto tax regime does not …

Budget 2023 Updates: FM offers no relief for crypto industry as 30% flat tax continues
2 years, 1 month ago

Budget 2023 Updates: FM offers no relief for crypto industry as 30% flat tax continues

India Today  

The 2023 Union Budget has brought with it great news for the middle class with a revised tax slab offering income tax concessions to the middle class. Finance Minister Nirmala Sitharaman announced a flat 30 percent tax on crypto in the previous budget which wasn't revised during this year’s session. Not good for our country and those building in this …

Domestic crypto trading volume declines following the announcement of tax on crypto gains
2 years, 2 months ago

Domestic crypto trading volume declines following the announcement of tax on crypto gains

India Today  

With the advent of the new-age digital currencies, the cryptocurrency space has been buzzing with investors increasingly turning to crypto-based investments over fiat currency and traditional alternatives. Ever since the Finance Minister, Nirmala Sitharaman, revealed new tax laws on these digital assets in the previous year’s budget, it has been observed that there has been a shift in the trading …

Crypto india regulation tax income tds understand sector first why others should take note
2 years, 7 months ago

Crypto india regulation tax income tds understand sector first why others should take note

ABP News  

Cryptocurrencies have been in the spotlight ever since the Supreme Court removed the blanket ban on them in early 2020. India, despite being a late entrant, embraced the crypto world with open arms and today there are as many as 27 million Indians who hold crypto assets, largely from Tier II and Tier III cities. A close observation of the …

Crypto Tax In India: A Tale Of Control Or Caution?
2 years, 7 months ago

Crypto Tax In India: A Tale Of Control Or Caution?

ABP News  

Cryptocurrency gains face a tax of 30 percent in India. The taxation of cryptocurrencies is also considered a way to legitimise crypto assets in India, without banning them outright, allowing investors and traders to continue dealing with crypto without much worry. Compared to some countries, India’s tax structure might seem a little bit more relaxed, whereas compared to some other …

Crypto tax rules: Should you sell your crypto assets before Mar 31?
2 years, 11 months ago

Crypto tax rules: Should you sell your crypto assets before Mar 31?

Live Mint  

The Indian government has tightened bolts for trading in cryptocurrencies. On Friday, Lok Sabha approved taxation rules on virtual digital assets or "crypto tax" that was proposed in Budget 2022-23 by clearing the Finance Bill 2022. Under the bill, section 115BBH deals with taxes on virtual digital assets, while clause prohibits setting off a loss from crypto assets against income …

Crypto Tax in India: Date, income tax, ITR form, TDS, deduction | Key points
3 years ago

Crypto Tax in India: Date, income tax, ITR form, TDS, deduction | Key points

India Today  

As the ongoing financial year 2021-22 draws to a close, there has been a lot of chatter pertaining to crypto-tax in India. The central government in Union Budget 2022 proposed the introduction of a specific tax regime for virtual digital assets. INCOME TAX ON DIGITAL ASSETS FM Sitharama proposed that "any income from the transfer of any virtual digital asset …

Crypto tax in India explained: How much you may have to pay, tips to prepare
3 years, 1 month ago

Crypto tax in India explained: How much you may have to pay, tips to prepare

India Today  

India has nearly 15-20 million cryptocurrency with total crypto holdings of above $5 billion which shows vast interest among crypto investors. Crypto investors will have to pay 30 per cent tax on their profits. This 30 per cent tax on profit also takes into account a 1 per cent Tax Deducted at Source deposited by the facilitator, exchanges, or a …

Budget 2022: Implications of crypto tax regime on common investor
3 years, 1 month ago

Budget 2022: Implications of crypto tax regime on common investor

Firstpost  

After months of speculation and waiting, the crypto ecosystem finally has a nod from the Government of India albeit in terms of a tax regime. With crypto being accorded the highest tax slab for any asset class at 30 percent and the implementation of a 1 percent TDS on bigger trades, investors may feel the pinch if they react to …

Crypto Tax: Pay income tax for cryptocurrency transactions done before April 2022
3 years, 1 month ago

Crypto Tax: Pay income tax for cryptocurrency transactions done before April 2022

India Today  

Crypto investors involved in the transaction must take note that there is a taxability of the crypto-currency for the ongoing financial year ending on March 31. Crypto investors should know that the transactions done before April 2022 will not be tax-free," Central Board of Direct Taxes Chairman JB Mohapatra said. Earlier, Revenue Secretary Tarun Bajaj said that income tax return …

Crypto Tax Proposed in Budget 2022 Explained: How and When you have to Pay Tax on Crypto
3 years, 1 month ago

Crypto Tax Proposed in Budget 2022 Explained: How and When you have to Pay Tax on Crypto

News 18  

Finance minister Nirmala Sitharaman in Union Budget 2022 announced that India will levy a steep tax at a flat rate of 30 per cent on virtual assets including cryptocurrency and Nonfungible tokens or NFTs. “Accordingly, for the taxation of virtual digital assets, I propose to provide that any income from transfer of any virtual digital asset shall be taxed at …

Legal or not? India’s budget raises questions, hopes for crypto
3 years, 1 month ago

Legal or not? India’s budget raises questions, hopes for crypto

Al Jazeera  

Narendra Modi’s government plans to launch an official digital currency and begin taxing profits on cryptos. Narendra Modi’s government said during the budget announcement on Tuesday that it will launch an official digital currency and begin taxing profits earned on cryptocurrencies from the financial year 2022-2023. Even as Finance Minister Nirmala Sitharaman insisted cryptos could not be considered “currencies”, she …

Budget 2022: Crypto players seek regulatory framework, clarity on taxation
3 years, 2 months ago

Budget 2022: Crypto players seek regulatory framework, clarity on taxation

Firstpost  

Union Budget 2022-23: Crypto-based businesses including exchanges have been self-compliant and adhering to all the relevant laws in the country More than 15 million Indian investors have an exposure to cryptocurrencies today. Here is what we are looking forward to: Tax implications on businesses and investors Crypto-based businesses including exchanges have been self-compliant and adhering to all the relevant laws …

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