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 …
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 …
