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Articles for Vda, search results for levy

TDS on Cryptos: Know How Much Govt Has Earned So Far
1 year, 8 months ago

TDS on Cryptos: Know How Much Govt Has Earned So Far

News 18  

Virtual digital assets, including cryptocurrencies, attract 1 per cent of tax deducted at source. Finance Minister Nirmala Sitharaman in the Union Budget 2022 had introduced the provision of tax deducted at source at 1 per cent levied on payments made on transfer of virtual assets. According to a CBDT notification, “The new section mandates a person, who is responsible for …

Tax 1 Per Cent Vda
Budget 2023-24 Expectation: Need for clarity on equalisation levy; higher tax on virtual digital assets
1 year, 10 months ago

Budget 2023-24 Expectation: Need for clarity on equalisation levy; higher tax on virtual digital assets

Firstpost  

Among the tax base broadening initiatives taken by the government in recent years in the digital sector, two key measures that have stood out are the equalisation levy and higher tax on virtual digital assets. Taxing digital economy Unlike the digital services tax applied by some other countries, the widened scope of EQL provisions in India covers even the traditional …

India Budget Online Pan Levy Nft Digital Assets
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 …

Tax Transfer Value Sum Deduction Tds Exchange
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 …

India Tax Income Tax Transfer Digital Income Virtual
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 …

India Tax Cryptocurrency Pti Bill 2022 Tds