Finance : Investors with diversified portfolios are always looking for a new asset class or type to increase their profitability, and crypto...
Income Tax : The article explains the taxation framework for cryptocurrencies, NFTs, and other VDAs under Sections 115BBH and 194S. It highligh...
Finance : The article explains that each crypto card transaction is treated as a taxable transfer of virtual digital assets under Indian tax...
Corporate Law : The court recognized cryptocurrency as property, but lack of statutory clarity leaves companies uncertain about holding, accountin...
Income Tax : The law replaces Form 26QE with Form 141 for VDA transactions from April 2026. Taxpayers must follow the new challan-cum-statement...
Finance : The Finance Ministry highlighted regulatory and enforcement challenges posed by VDAs, including crypto assets. Measures such as 30...
Finance : In a Lok Sabha response, the government clarified its stance on VDAs, stating no plans to revise crypto taxes or launch ETFs, whil...
Corporate Law : Crypto not yet regulated in India; FIU monitors VASPs under PMLA. 1% TDS applies to VDAs. RBI issues advisories on crypto risks; n...
Income Tax : India's Finance Ministry details VDA/cryptocurrency tax revenue, compliance tools, and official training, addressing tax evasion c...
Finance : CBI conducts searches across India in the GainBitcoin scam, seizing digital evidence and crypto wallets to trace misappropriated f...
Income Tax : ITAT Delhi condoned a 333-day delay in filing appeal after finding the reasons stated by the assessee to be bona fide. The matter ...
Corporate Law : Allahabad High Court dismisses plea to quash FIR against Mahendra Pratap Srivastava ('Zoom Baba') in Ruby Coin crypto fraud, citin...
Income Tax : "ITAT Jodhpur rules Bitcoin gains as long-term capital gains (LTCG) and allows Section 54F deduction for AY 2021-22. Read the deta...
Income Tax : Assessee to satisfy the authority by submitting Crypto currency ledger to verify information as was submitted by him before AO in ...
Corporate Law : Tata Sons Private Limited Vs Hakunamatata Tata Founders (Delhi High Court) The plaintiff is a company incorporated in India. Thoug...
Income Tax : The notification expands reporting rules to include central bank digital currencies, electronic money products and relevant crypto...
Income Tax : Government initiatives under PMLA and Black Money Act target undisclosed crypto income, enhancing monitoring, enforcement, and com...
Goods and Services Tax : Explore key changes in CGST (Amendment) Bill 2023, focusing on taxability of casinos, horse racing, and online gaming. Understand ...
Corporate Law : Central Government hereby notifies that the following activities when carried out for or on behalf of another natural or legal per...
Income Tax : Notification No. 75/2022- (Income-tax) | Dated: 30th June, 2022– CBDT specifies a token which qualifies to be a virtual digi...
India taxes Virtual Digital Assets at 30% with strict loss restrictions. The article evaluates whether this regime is economically viable long term.
India taxes Virtual Digital Assets at a flat 30% with no loss set-off. The article examines whether this framework aligns with equity and neutrality principles.
Introduction The story of cryptocurrency in India has been a roller-coaster ride, to say the least. From the Reserve Bank of India’s (RBI) ‘shadow ban’ in 2018 to the Supreme Court’s landmark judgment in Internet and Mobile Association of India v. RBI (2020), the journey has been one of ups and downs for the cryptocurrency […]
Indian law treats NFTs as Virtual Digital Assets taxable at 30% under Section 115BBH. The key takeaway is that traditional asset classification is overridden by a special tax regime.
Section 115BBH imposes a 30% tax on gains from virtual digital assets, with no set-off of losses. Investors must compute and report VDA income carefully.
The Finance Ministry highlighted regulatory and enforcement challenges posed by VDAs, including crypto assets. Measures such as 30% taxation and mandatory reporting aim to curb tax evasion and enhance transparency.
The issue was how cryptocurrency income is classified for tax purposes. The framework holds that transfers fall under a dedicated VDA regime with a flat rate and strict loss rules.
Furnishing incorrect crypto-asset information without rectification can attract a fixed penalty. The amendment strengthens accountability and data accuracy.
The UK overhauled crypto promotion laws after widespread misleading ads. Only FCA-approved firms can now market cryptoassets.
Accepting Bitcoin can streamline payments, but Indian law imposes a flat 30% tax on VDA income and 1% TDS on transfers. Businesses must adopt strict valuation, accounting, and reporting systems to remain compliant.
