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Mohnish Wadhwa

Latest Posts by Mohnish Wadhwa

Cryptocurrency – whether a BAN can actually BAN or merely relocate the operations..!!

February 19, 2021 5733 Views 0 comment Print

Lately we have been hearing a lot about banning of cryptocurrencies in India. Many people fear that the BAN would actually happen soon and this has made the market volatile for the traders in India. In order to understand this, let us first rewind to understand the earlier steps taken by regulatory bodies and when […]

Whether Ban on Crypto is likely to happen?

August 22, 2020 678 Views 0 comment Print

We have seen a lot of speculations in the Indian market on cryptocurrency after the Apex court gave its verdict in March 2020 favoring the crypto traders. As per the recent news, the Regulators have been working on preparing a note to pen down the proposal to the government. It is also very evident from […]

Digital Technology (DigiTech) & E-commerce Taxation

July 28, 2020 1689 Views 0 comment Print

Digital Technology (DigiTech) & E-commerce Taxation Indian e-commerce and DigiTech industry have been grown to a new height in the past decade. We have seen exponential rise in the way people look at business and the modus operandi of managing a business. From high investments in space and layouts, people have diverted to high investments […]

Confusion on section 194J TDS for Technical Service- Finance Act 2020

May 9, 2020 12546 Views 0 comment Print

Finance Act 2020 – TDS under section 194J FA 2020 has introduced lower rate of deduction @ 2% instead of 10%, under section 194J, if the service is in the nature of: 1. Technical service; or 2. Royalty in the nature of consideration for sale, distribution or exhibition of cinematographic films For the part of […]

Section 6 – Residency provisions – Analysis of amendments

April 23, 2020 8172 Views 2 comments Print

Analysis of amendments to Section 6 – Residency provisions under the Income-tax Act, 1961 (‘the Act’) Old Provisions Proposals made through Finance Bill 2020 (Change to Old Provisions highlighted in RED) Amendments made through Finance Act 2020 (Change to Old Provisions highlighted in RED)   I. Resident in India if :- (a) Stays in India […]

Startup India – Taxation & Other Benefits

April 8, 2020 2781 Views 0 comment Print

This article attempts to discuss the tax and regulatory incentives available to Startups. Angle Tax Benefit – An eligible start-up can avail Income-tax exemption on consideration received for issue of shares that exceeds the face value

E-commerce and Equalisation Levy in Finance Act 2020

April 4, 2020 4803 Views 0 comment Print

From 01-04-2020, the equalisation levy shall be charged at the rate of 2% from the consideration received or receivable by an e-commerce operator from e-commerce supply of goods or services made or provided or facilitated by it to the following persons:

Cryptocurrency, its history & considerations for tax in India

March 29, 2020 6690 Views 3 comments Print

Cryptocurrency Crypto in India has always been something which is not understood by majority masses. India having one of the largest economy in the world, would always fear something which has a potential to replace the fiat currency primarily because it does not have a know how to curb the wrong practices which can result […]

SC Instructs To Lift Ban on Cryptocurrency Imposed By RBI

March 6, 2020 852 Views 0 comment Print

Crypto trading started in 2009 with Bitcoin and later it grew in volumes and many other crypto players came in market with their own crypto currency. This uses strong cryptography to protect end to end financial transaction and this because a means of negotiable instrument across the globe for various transactions. Having understood that this […]

FATCA & CRS Compliance: Rule 114F to 114H of Income-tax Rules,1962

February 28, 2020 59835 Views 1 comment Print

Income-tax Rules, 1962 were amended vide Notification No. 62 of 2015 dated 7th August, 2015 by inserting Rules 114F to 114H and Form 61B to provide a legal basis for the Reporting Financial Institutions (RFIs) for maintaining and reporting information about the Reportable Accounts.

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