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Articles for Vda, search results for crypto

Govt has no timeline for regulatory guidelines for Virtual Digital Assets
1 week ago

Govt has no timeline for regulatory guidelines for Virtual Digital Assets

Live Mint  

New Delhi, December 16 : The government on Monday informed Lok Sabha that there is no anticipated timeline for the introduction of comprehensive regulatory guidelines for the Virtual Digital Assets industry in India. The government was asked by two members of Parliament whether it was taking steps to establish a comprehensive regulatory framework for the Virtual Digital Assets industry. The …

India Crypto Regulatory Assets G20 Vda Crypto Assets
Crypto industry players see light at end of tunnel despite regulatory vacuum. Here’s why
4 months, 2 weeks ago

Crypto industry players see light at end of tunnel despite regulatory vacuum. Here’s why

Live Mint  

The Ministry of Finance recently made it clear in a written reply in the Lok Sabha that the government is not considering a law to regulate the transaction of cryptocurrencies. However, crypto industry participants are not too pessimistic about Chaudhary’s statement, which was released at the behest of the Finance Ministry since they pin hopes on a discussion paper on …

India Crypto Vda
Crypto industry 'disappointed' as it finds no mention in Budget
4 months, 4 weeks ago

Crypto industry 'disappointed' as it finds no mention in Budget

New Indian Express  

BENGALURU: The crypto industry, which has been seeking a reduction in the rate of TDS on the transfer of VDAs from 1% to 0.01%, remained disappointed with the Budget as there was no mention of crypto or VDAs in Finance Minister Nirmala Sitharaman's speech. Dilip Chenoy, Chairperson, Bharat Web3 Association, said they will continue to push for rationalization of the …

Industry Budget Crypto Tds Vda Crypto Industry
28 virtual digital asset service providers register with Centre
1 year ago

28 virtual digital asset service providers register with Centre

Deccan Chronicle  

New Delhi: The government on Monday declared that as many as 28 virtual digital assets or VDA service providers, including WazirX, Coin DCX and Coin Switch, have registered themselves with the Financial Intelligence Unit-India. As per the finance ministry, entities dealing in VDAs, crypto exchanges and intermediaries would be considered ‘reporting entity’ under the Prevention of Money Laundering Act. To …

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India’s G20 presidency: For Virtual Digital Assets
1 year, 4 months ago

India’s G20 presidency: For Virtual Digital Assets

Hindustan Times  

Virtual Digital Assets were, for the longest period, considered forbidden fruits, capable of causing financial instability and compromising transactional integrity. An SOP focused on the four priority areas - Consumer and Investor Protection, Access to Law Enforcement Agencies to Address Fraudulent Practices, Regulatory Arbitrage and Financial Stability – holds the potential to address the existing lacunae in the VDA framework. …

India Regulation Enforcement Regulatory Assets G20 Law Enforcement Agencies
Decoding crypto reporting requirements in new income tax return forms
1 year, 6 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 …

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G7 Summit Could Offer Some Cues To Set G20’s Crypto Regulations Straight
1 year, 7 months ago

G7 Summit Could Offer Some Cues To Set G20’s Crypto Regulations Straight

ABP News  

The G7 nations recently congregated ahead of their summit to discuss the much anticipated regulatory developments for virtual digital assets. The nations have collectively taken a call, much like the G20 group, to align their regulations with the standard set by the Financial Stability Board. Market stability becomes a key point of concentration in this aspect as for central bank …

India Regulations Crypto G20 Countries Set Nations
Budget 2023: What Awaits The Crypto Sector? Everything You Need To Know
1 year, 11 months ago

Budget 2023: What Awaits The Crypto Sector? Everything You Need To Know

ABP News  

The 2023 Union Budget is nearly here and the biggest question that’s haunting the mind of crypto enthusiasts is simple — how will the Finance Ministry treat the virtual digital assets sector this time around? While 2022 saw several important milestones for the crypto sector, from the taxation of gains to the introduction of a central bank digital currency, the …

India Financial Budget Assets Digital Cryptocurrencies Sector
India's First CBDC, FTX Fiasco, LUNA Meltdown: Crypto Events That Defined 2022
2 years ago

India's First CBDC, FTX Fiasco, LUNA Meltdown: Crypto Events That Defined 2022

ABP News  

2022 has been a particularly eventful year for the crypto sector. Here’s a quick look at some of the major crypto events that made headlines in 2022: India announces crypto tax Cryptocurrencies, non-fungible tokens, and similar entities are clubbed under virtual digital assets in the country and face a stringent taxation structure as part of the new regime that came …

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Five Ways That Crypto Asset Reporting Framework Can Impact Indian Institutions, Investors
2 years ago

Five Ways That Crypto Asset Reporting Framework Can Impact Indian Institutions, Investors

News 18  

India is one of the few early signatories and adopters to the Multilateral Competent Authority Agreement which provides a standardised and efficient mechanism to facilitate automatic exchange of information released by rhw Organization for Economic Co-operation and Development. CARF rules are designed to include the scope of crypto assets to be covered, entities and individuals subject to data collection and …

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WIll Crypto-Asset Reporting Framework bring clarity for investors?
2 years, 1 month ago

WIll Crypto-Asset Reporting Framework bring clarity for investors?

Live Mint  

Transactions in cryptocurrency have increased manifold. The OECD defines crypto assets as a digital representation of value that relies on a cryptographically secured distributed ledger or a similar technology to validate and secure transactions. The framework provides guidance on various aspects of entities and individuals, subject to data reporting responsibility and data collection requirements, types of transactions covered, and relevant …

India Tax Information Crypto Assets Digital Digital Assets
Gifting NFTs, Crypto, VDAs This Diwali? Recipients Can Be Taxed On Certain Items. Know More
2 years, 2 months ago

Gifting NFTs, Crypto, VDAs This Diwali? Recipients Can Be Taxed On Certain Items. Know More

ABP News  

Exchanging gifts during Diwali has become part and parcel of the festival as it brings a smile to our face. Certain gifts received can attract tax under the existing Income Tax law. Crypto tax Finance Minister Nirmala Sitharaman in her Union Budget speech this year announced that from April 1 all forms of VDA or crypto assets that are sold …

Tax Digital Diwali Income Digital Assets 30 Per Cent Nfts
Crypto Tax In India: A Tale Of Control Or Caution?
2 years, 4 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 …

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TDS on crypto payments: All your questions on 1% tax rule answered
2 years, 5 months ago

TDS on crypto payments: All your questions on 1% tax rule answered

Live Mint  

Crypto investors are facing a hard time as they move from one setback to another. The Central Board of Direct Taxes has released a set of guidelines to clear the doubts that tax payers and crypto investors may have with regards to TDS on virtual digital Assets. It is an individual or Hindu undivided family who does not have any …

Tax Crypto Payment Person Tds Deducted Vda
TDS On Crypto Assets From July 1: Income Tax Dept Issues Guidelines; Know Rules Here
2 years, 6 months ago

TDS On Crypto Assets From July 1: Income Tax Dept Issues Guidelines; Know Rules Here

News 18  

The Central Board of Direct Taxes has issued detailed guidelines on the levy of tax deducted at source on virtual digital assets or crypto assets, which will be effective July 1. The CBDT said, “This deduction is not required to be made in the following cases:- the consideration is payable by a specified person and the value or aggregate value …

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Crypto Tax rules in India: How will cryptocurrency assets be taxed from April 1?
2 years, 8 months ago

Crypto Tax rules in India: How will cryptocurrency assets be taxed from April 1?

India Today  

Cryptocurrency investors in India will have to pay tax under the new scheme for Taxation of Virtual Digital Assets from April 1. Financial Minister Nirmala Sitharaman in the Union Budget 2022 announced that "any income from transfer of any virtual digital asset shall be taxed at the rate of 30 per cent." The minister also added that in order to …

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Crypto tax rules: Should you sell your crypto assets before Mar 31?
2 years, 8 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 …

Finance Tax Cryptocurrency Crypto Indian Assets Digital
Lok Sabha passes Finance Bill
2 years, 8 months ago

Lok Sabha passes Finance Bill

Deccan Chronicle  

New Delhi: The Finance Bill 2022, moved by finance minister Nirmala Sitharaman, was passed in the Lok Sabha on Friday. The government has reportedly proposed 39 amendments to the Finance Bill, 2022, including changes to the crypto tax structure; penalty provisions on publication of import-export data and status of past income computations that claimed deduction of disallowed cess and surcharges. …

Tax Crypto Lok Sabha Bill Finance Bill Vda
Cryptocurrency tax, bill in India: What we know so far
2 years, 8 months ago

Cryptocurrency tax, bill in India: What we know so far

India Today  

The cryptocurrency tax and proposed regulation bill have been a topic of discussion among investors and stakeholders in India for sometime. The government on Thursday proposed to tighten the norms for taxation of cryptocurrencies by disallowing the set off of any losses with gains from other virtual digital assets, according to a PTI report. FINANCE BILL, 2022 As per the …

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Crypto Tax in India: Date, income tax, ITR form, TDS, deduction | Key points
2 years, 9 months 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 …

Tax Crypto Assets Income Tax Transfer Digital Income