cryptocurrency

weTrade begins India innings; total number of consumer currently stand at 2,600

Cryptocurrency application weTrade aims to clock a turnover of Rs 100 crore by the end of FY23, Prashant Kumar, founder, weTrade, told FE Digital Currency, adding that it has been about three and a half months into operation and it requires to complete four months to be able to compute loss or profit for the […]

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TDS on virtual digital assets from July 1: Read CBDT guidelines on crypto tax

[ad_1] New Delhi: The income tax department on Wednesday said the 1 per cent TDS on transfer of virtual digital assets would be levied on net transaction value and the onus of deducting the tax would primarily be on the exchanges. The Central Board of Direct Taxes (CBDT) issued an FAQ on the TDS provisions

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Cryptos can lead to dollarisation of economy, RBI officials tell Parliamentary panel

[ad_1] Cryptocurrencies can lead to “dollarisation” of a part of the economy which would be against India’s sovereign interest, top officials of the RBI have told a parliamentary panel, according to sources. Briefing the Parliamentary Standing Committee on Finance chaired by former minister of state for finance Jayant Sinha, top officials of the RBI, including

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After 30% tax and one percent TDS, crypto set to battle GST; as it crafts a survival strategy

[ad_1] With several reports stating Goods and Services (GST) council might consider imposing 28% GST on cryptocurrency based services, this has led to concerns among several players. It is understood that many players believe that this move would adversely impact the sector in India. “While an 18% tax is already levied on services by crypto

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Crypto investors alert! GST Council mulling 28% tax on Bitcoin, others

[ad_1] New Delhi: In what could further dampen the mood of crypto investors in the country, the goods and services tax (GST) council is mulling a 28 per cent tax on cryptocurrencies, at par with the current GST on casinos, betting and lottery, multiple media reports claimed on Monday. The services such as crypto mining

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GST net on crypto may expand to include their sale, purchase

[ad_1] The government may expand the indirect tax net over cryptocurrencies to cover the entire gamut of activities, including their usage for exchanging goods and services, at the highest slab of 28% as many parliamentarians have demanded to treat them at par with lotteries and gambling, two people aware of the development said. Although the

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