Blockchain & crypto news from India
According to a tweet posted on Monday by ET Now, the Indian government is anticipating taxing crypto trades and ecosystem in the nation. The tax department is in favor of taxing crypto trades and exchanges and the government believes that any task that results in income must pay tax. The development comes in as the…
The tax department and buyers are in a dilemma over how to calculate profits on crypto for taxation purposes, especially since tax regulations lurch and there exist disagreement against specific laws and tax is computed on the value declared by the assessee. The big query that’s worrying all is how the profits from crypto assets…
Trading on crypto exchanges based out of India may get more expensive as the country’s regulator pondering over a 2% equalization tax on crypto dealings. The new equalization tax – a levy that the nation charge on foreign companies – would apply to other cryptocurrencies and Bitcoin purchased off exchanges that are based out of…