Income Tax : Section 115BBH taxes VDA gains at 30%, disallows loss set-off, and Section 194S requires 1% TDS on eligible crypto transfers....
Finance : The article argues that while taxing Virtual Digital Assets separately is constitutionally permissible, the blanket prohibition on...
Income Tax : The article explains the taxation framework for cryptocurrencies, NFTs, and other VDAs under Sections 115BBH and 194S. It highligh...
Income Tax : The law replaces Form 26QE with Form 141 for VDA transactions from April 2026. Taxpayers must follow the new challan-cum-statement...
Income Tax : The provisions mandate taxation of VDA transfers at a flat 30% rate without allowing deductions except cost of acquisition. The ke...
Section 115BBH taxes VDA gains at 30%, disallows loss set-off, and Section 194S requires 1% TDS on eligible crypto transfers.
The article argues that while taxing Virtual Digital Assets separately is constitutionally permissible, the blanket prohibition on loss set-off under Section 115BBH lacks a rational basis. It concludes that courts could read down the provision by allowing limited intra-VDA loss adjustment.
The article explains the taxation framework for cryptocurrencies, NFTs, and other VDAs under Sections 115BBH and 194S. It highlights the harsh restrictions on deductions and loss set-off.
The law replaces Form 26QE with Form 141 for VDA transactions from April 2026. Taxpayers must follow the new challan-cum-statement system for TDS compliance.
The provisions mandate taxation of VDA transfers at a flat 30% rate without allowing deductions except cost of acquisition. The key takeaway is that strict computation rules limit tax benefits and increase effective tax liability.
The article explains how taxation differs based on classification under Sections 115BBH and 43(5). This distinction affects tax rates, deductions, and loss treatment.
Income from transfer of cryptocurrencies, NFTs, and other virtual digital assets is taxed at a flat 30% rate under Indian tax law. The framework also restricts deductions and disallows set-off of losses.
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.
The case examines how tax authorities can access electronic and online data once a “reason to believe” threshold is met, highlighting risks to digital privacy and compliance.
