Crypto Tax 30

Earlier this month, the US’ Council of Economic Advisors (CEA) floated a proposal to have Bitcoin miners pay a tax equal to 30 percent of the total energy cost that they consumed in the crypto mining process. The proposal has been scrapped by the US. The decision to pull the plug on this proposal could be part of a bunch of tax-related rebates in...

The US is mulling on imposing a punitive tax on companies and individuals indulging in crypto mining in the country. Soon, the US could ask crypto miners to pay a tax equal to 30 percent of the total energy cost that they consume in mining cryptocurrencies.

The US government has proposed to raise the taxes on the electricity requirement for miners. The tax imposed on the electricity usage by crypto mining firms could now go as high as 30 percent of total cost of the electricity that was used to facilitate the mining process in the US.

The government, from April 1, has brought in a 30 per cent income tax plus surcharge and cess on transfer of crypto assets, like Bitcoin, Ethereum, Tether and Dogecoin.

Shubham Saini, a final year dropout of a BCA course, has stirred a whirlwind of excitement among the Indian crypto community. The young lad has begun accepting crypto payments for his hot tea and maggie servings to the residents of Bengaluru. On an average, Saini has been seeing atleast three to four crypto payments. While the market is bearish at ...

India has taken a conservative position on cryptocurrency, and the government’s decision is said to be vindicated by the ongoing global cryptocurrency market meltdown. To dampen crypto trading, a one percent tax deducted at source (TDS) on crypto transactions was introduced on July 1, following a 30 percent capital gains tax on all transactions t...

The Income Tax Department has come out with detailed disclosure requirements for TDS deductions for virtual digital assets, under which date of transfer and mode of payment will have to be specified. The 2022-23 Budget has brought in clarity with regard to levy of income tax on crypto assets. From April 1, a 30 percent I-T plus cess and surcharges,...

Indian tax authorities are exploring the implementation of a 28 percent goods and services tax (GST) on all cryptocurrency transactions, adding to a 30 percent tax on profits from crypto-asset trading that kicked in on April 1.

The new tax rules on cryptocurrency profits came into effect on April 1.

India’s tax laws on virtual digital assets is hampering crypto trading in the nation, a report by research firm Crebaco has claimed. It says that exchanges like WazirX, CoinDCX, and ZebPay have seen trading activities slip subtantially downwards in the last ten days. India’s tax laws on digital assets came into effect on April 1.

When India's government unveiled a plan to tax crypto assets in February, it was the 30% rate on income from digital-asset investments that grabbed headlines. But its a different levy that has the industry warning of a potentially destabilizing liquidity crunch.

Crypto community in India has finally stepped into a tax regime today (April 1). A 30 percent tax will now be deducted from crypto profits, as per Finance Minister Nirmala Sitharaman’s instructions. Rule breakers could be subject to serious legal troubles. Members of India’s law fraternity believe these rules were much needed and are coming at ...

The Income Tax Department will keep a close eye on every transaction on crypto exchanges as the 30 per cent 'crypto tax' proposed in the Union Budget comes into effect from 1st April 2022.

The Lok Sabha today approved the Finance Bill, which gives effect to new taxation on transactions involving digital assets. The bill proposes a 30 per cent tax on capital gains out of virtual digital assets.

Crypto investors have welcomed the government's decision to tax profits from digital assets' transactions, even as the rate is a steep 30 per cent.

Earlier this month, the US’ Council of Economic Advisors (CEA) floated a proposal to have Bitcoin miners pay a tax equal to 30 percent of the total energy cost that they consumed in the crypto mining process. The proposal has been scrapped by the US. The decision to pull the plug on this proposal could be part of a bunch of tax-related rebates in...

The US is mulling on imposing a punitive tax on companies and individuals indulging in crypto mining in the country. Soon, the US could ask crypto miners to pay a tax equal to 30 percent of the total energy cost that they consume in mining cryptocurrencies.

The US government has proposed to raise the taxes on the electricity requirement for miners. The tax imposed on the electricity usage by crypto mining firms could now go as high as 30 percent of total cost of the electricity that was used to facilitate the mining process in the US.

The government, from April 1, has brought in a 30 per cent income tax plus surcharge and cess on transfer of crypto assets, like Bitcoin, Ethereum, Tether and Dogecoin.

Shubham Saini, a final year dropout of a BCA course, has stirred a whirlwind of excitement among the Indian crypto community. The young lad has begun accepting crypto payments for his hot tea and maggie servings to the residents of Bengaluru. On an average, Saini has been seeing atleast three to four crypto payments. While the market is bearish at ...

India has taken a conservative position on cryptocurrency, and the government’s decision is said to be vindicated by the ongoing global cryptocurrency market meltdown. To dampen crypto trading, a one percent tax deducted at source (TDS) on crypto transactions was introduced on July 1, following a 30 percent capital gains tax on all transactions t...

The Income Tax Department has come out with detailed disclosure requirements for TDS deductions for virtual digital assets, under which date of transfer and mode of payment will have to be specified. The 2022-23 Budget has brought in clarity with regard to levy of income tax on crypto assets. From April 1, a 30 percent I-T plus cess and surcharges,...

Indian tax authorities are exploring the implementation of a 28 percent goods and services tax (GST) on all cryptocurrency transactions, adding to a 30 percent tax on profits from crypto-asset trading that kicked in on April 1.

The new tax rules on cryptocurrency profits came into effect on April 1.

India’s tax laws on virtual digital assets is hampering crypto trading in the nation, a report by research firm Crebaco has claimed. It says that exchanges like WazirX, CoinDCX, and ZebPay have seen trading activities slip subtantially downwards in the last ten days. India’s tax laws on digital assets came into effect on April 1.

When India's government unveiled a plan to tax crypto assets in February, it was the 30% rate on income from digital-asset investments that grabbed headlines. But its a different levy that has the industry warning of a potentially destabilizing liquidity crunch.

Crypto community in India has finally stepped into a tax regime today (April 1). A 30 percent tax will now be deducted from crypto profits, as per Finance Minister Nirmala Sitharaman’s instructions. Rule breakers could be subject to serious legal troubles. Members of India’s law fraternity believe these rules were much needed and are coming at ...

The Income Tax Department will keep a close eye on every transaction on crypto exchanges as the 30 per cent 'crypto tax' proposed in the Union Budget comes into effect from 1st April 2022.

The Lok Sabha today approved the Finance Bill, which gives effect to new taxation on transactions involving digital assets. The bill proposes a 30 per cent tax on capital gains out of virtual digital assets.

Crypto investors have welcomed the government's decision to tax profits from digital assets' transactions, even as the rate is a steep 30 per cent.