As a result of the COVID-19 epidemic, India’s digital adoption rate increased. Reserve Bank of India (RBI) is working on introducing India’s own digital currency. Historically, India has had a rocky relationship with digital assets, particularly cryptocurrencies. However, the Supreme Court overturned a prohibition on cryptocurrency transactions in March 2020,
Taxes on earnings from the transfer of virtual assets will be taxed from this month. At least four other cryptocurrency trading sites have prohibited rupee deposits. An underlying question between crypto exchanges and the National Payments Corporation of India, which handles the United Payments Interface (UPI), has led to a
TDS will begin on July 1, a month after crypto taxes came into effect, April 1. Unocoin’s CEO and co-founder stated the new tax legislation is affecting the industry. A capital gain tax of 30 percent on crypto transactions was applied to citizens of India after Parliament enacted a tax
Here is an interesting and exciting announcement for all the millions of crypto users chilling in India. With an overall population of more than 1.4 billion in India, we can clearly observe the rise of the users, investors, fans and followers of the trending crypto space. Recently, the Indian crypto
In recent months, being into the crypto industry we can clearly observe that India is becoming one of the booming spaces for cryptocurrencies. After all bans and regulations put up in India, it is now growing as a leading crypto operator around the world, rising the user base. Further targeting
A petition promoting this subject has received 1,02,956 signatures so far. It allows the government to keep tabs on all trade, digital assets. In India, taxation on cryptocurrency assets will begin on April 1, 2022. Finance Minister Nirmala Sitharaman revealed several modifications to the tax code in her presentation of
More than $12.6 million has been confiscated from 11 crypto exchanges. The authorities seemed to be concerned about the rapid pace of acceptance. The overall crypto market appeared optimistic on the most prominent cryptocurrencies like bitcoin, ether, and other altcoins, with a global market cap of $2.14T, showing no signs
All virtual digital assets (VDAs) and their revenues will be subject to tax. Those that make money by converting Bitcoin to NFTs will also be taxed. The Finance Bill, 2022 was approved in the Lok Sabha, which means that the Budget 2022’s measures on crypto tax would begin to take
Shaktikanta Das, the RBI governor, was the focus of MP Misra’s attack. Pinaki Misra criticized the government’s current position on digital assets. It’s no secret that the Indian government has been wary about cryptocurrencies‘ potential impact. Even Pinaki Misra, a country lawmaker, says that the government has created uncertainty surrounding
Virtual digital asset (VDA) enterprises must comply with 12 rules. The ASCI claims that aggressive advertising for these items has been going on. A disclaimer on the risks of investing in digital assets in India will be required beginning on April 1. New rules issued by the country’s advertising authority
