India turns to G20 for crypto inclusion in ‘Automatic Exchange of Information’

Finance Minister of India, Nirmala Sitharaman has tuned to the G20 nations to include cryptocurrency within the ‘Automatic Exchange of Information’ framework. Over 100 nations have adopted the Common Reporting Standard under the framework. The finance minister discussed crypto during the G20 Ministerial Symposium on Tax and Development in Bali, Indonesia on Friday.

Crypto tax

CBDT releases crypto TDS guidelines

The CBDT (Central Board of Direct Taxes) has shared clear guidelines on the newly introduced TDS on crypto transfers which will be applicable from July 1.  The guideline was published on 22nd June evening, and in this blog and we’ll break it down for Blockmagic readers. The Income Tax department has published much-needed guidelines to throw…