Today news
About the same in other media
Centre mulls tweaking law in Budget to tax cryptocurrency gains
Reading now: 414
business-standard.comThe government is considering changes in the Income Tax Act to bring gains made from transactions in cryptocurrencies under the tax net in the Budget next year. It is also looking at imposing goods and services tax (GST) on the trade in virtual currencies.
People are already paying capital gains on income from cryptocurrencies, and the GST law provides for taxing such transactions as ‘services’, Revenue Secretary Tarun Bajaj told PTI.
Investments in cryptocurrencies have surged lately with expectations of higher returns. These currencies have also gained wider acceptance among youth.
The tax department’s view has been that taxing such “intangible” assets won’t mean that trading in them will be legitimised. “We will take a call. I
Read more on business-standard.comAbout this in other media
South Korean Political Parties in ‘De Facto Agreement’ over Crypto Tax Delay cryptonews.com /3 years ago
Show more
The website gocryptonft.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
