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Ukraine’s Parliament Backs Draft Law to Legalise, Tax Crypto and Virtual Assets
Ukraine’s parliament has approved the first reading of a crypto legalisation bill that introduces an 18 percent tax on digital asset profits. Lawmakers believe the framework could help recover up to $10 billion (roughly Rs. 88,000 crore) lost to crypto crime while aligning with EU rules. The move signals Ukraine’s intent to integrate crypto int...
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Income Tax Bill 2025 Clarifies Virtual Digital Asset Definition, Includes NFTs: Key Details
The Income Tax Bill 2025 classifies any cryptographically generated code, number, or token representing inherent value as part of the country's VDA ecosystem.
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RBI Governor Says Crypto Discussion Paper Will Clarify India’s Stance on Virtual Assets; Industry Reacts
RBI Governor Sanjay Malhotra stated that the upcoming crypto discussion paper, being prepared under the Finance Ministry’s oversight, will provide clarity on the future of crypto assets in India. However, he did not specify a timeline for its release.
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Crypto Exchanges, Virtual Digital Asset Intermediaries Must Perform KYC of Clients: Finance Ministry
Crypto exchanges and firms dealing with virtual digital assets must perform KYC of their clients and users on the platform, under new rules notified by the Finance Ministry earlier this week. Entities dealing in virtual digital assets are now considered 'reporting entities' under the Prevention of money laundering Act (PMLA).
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Government Imposes Anti-Money Laundering Provisions on Crypto Sector in India: Details
The Finance Ministry on Tuesday announced that it was applying anti-money laundering legislation to crypto trading, safekeeping and related financial services. The government has already levied more stringent tax rules on the crypto sector, including applying a levy on trading in 2022.
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India Should Consider Lowering TDS Rate on Cryptocurrency Trade to Stem Flight of Capital, Users: Report
India should consider lowering the 1 percent TDS imposed on cryptocurrency transactions, according to a joint report Chase India and Indus Law. The government, from April 1 last year, has brought in a 30 per cent income tax plus surcharge and cess on transfer of virtual digital assets (VDAs), including cryptocurrencies, like Bitcoin, Ethereum, Teth...
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India’s Crypto Tax Regime Draws Criticism from Bharat Web3 Association, Details Here
The Bharat Web3 Association (BWA) has reportedly met with senior officials from India’s finance ministry to review and voice concerns about India’s crypto-related policies and judgement. The BWA, comprised of members from Indian crypto players like WaxirX and CoinSwitch Kuber, is looking to participate actively in helping India formulate adequa...
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India Calls for Global Support to Regulate Crypto as RBI Favours Ban, Details Here
Indian finance minister Nirmala Sitharaman told the parliament on Monday that the RBI favours a ban on cryptocurrencies. The development comes at a time when the tax laws around virtual digital assets went live in India, slashing trade volumes on Indian exchanges. At this point, India still awaits laws on the crypto sector.
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What You Need to Know About Crypto, NFT Laws in India
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,...
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How the 1 Percent TDS Provision Will Affect the Growth of the Crypto Industry
The recently introduced 1 percent TDS on virtual digital asset (VDA) transactions, as part of the Finance Bill 2022, has been described as highly detrimental to the industry. The tax provision is expected to discourage entrepreneurs and investors from developing the burgeoning industry while the government could lose out on an opportunity to earn t...
-
IT Department Notifies TDS Disclosure Requirements for Crypto, Virtual Digital Assets
The income tax department has announcement TDS disclosure requirements for cryptocurrency, virtual digital assets. From July 1, 1 percent TDS will be charged on payments towards virtual digital assets or cryptocurrencies beyond Rs 10,000 in a year.
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Crypto Tax FAQs to be Published in Next 22 Days Before July 1: India’s Tax Board Chief
Sangeeta Singh, the chairperson of CBDT has said that FAQs around crypto taxations in India will be released around July 1. These FAQs will help the Indian crypto community get clarifications on the taxation of virtual digital assets. As per Sangeeta Singh, the chairperson of CBDT, these FAQs will be released around July 1.
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Crypto Trading Volume Nosedives in India Days After Tax Rule Implemented: Crebaco
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.
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India’s Crypto Tax Comes Into Effect Today, Violators Stare at Jail Time Up to 7 Years
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 ...
-
Crypto Tax Amendments Approved by Lok Sabha, Set to Be Implemented Starting April 1
Taxation of virtual digital assets (VDAs) or "crypto tax" proposed in the Union Budget 2022-23 is set to be implemented from April 1, as the Lok Sabha passed the Finance Bill, 2022.
-
Ukraine’s Parliament Backs Draft Law to Legalise, Tax Crypto and Virtual Assets
Ukraine’s parliament has approved the first reading of a crypto legalisation bill that introduces an 18 percent tax on digital asset profits. Lawmakers believe the framework could help recover up to $10 billion (roughly Rs. 88,000 crore) lost to crypto crime while aligning with EU rules. The move signals Ukraine’s intent to integrate crypto int...
-
Income Tax Bill 2025 Clarifies Virtual Digital Asset Definition, Includes NFTs: Key Details
The Income Tax Bill 2025 classifies any cryptographically generated code, number, or token representing inherent value as part of the country's VDA ecosystem.
-
RBI Governor Says Crypto Discussion Paper Will Clarify India’s Stance on Virtual Assets; Industry Reacts
RBI Governor Sanjay Malhotra stated that the upcoming crypto discussion paper, being prepared under the Finance Ministry’s oversight, will provide clarity on the future of crypto assets in India. However, he did not specify a timeline for its release.
-
Crypto Exchanges, Virtual Digital Asset Intermediaries Must Perform KYC of Clients: Finance Ministry
Crypto exchanges and firms dealing with virtual digital assets must perform KYC of their clients and users on the platform, under new rules notified by the Finance Ministry earlier this week. Entities dealing in virtual digital assets are now considered 'reporting entities' under the Prevention of money laundering Act (PMLA).
-
Government Imposes Anti-Money Laundering Provisions on Crypto Sector in India: Details
The Finance Ministry on Tuesday announced that it was applying anti-money laundering legislation to crypto trading, safekeeping and related financial services. The government has already levied more stringent tax rules on the crypto sector, including applying a levy on trading in 2022.
-
India Should Consider Lowering TDS Rate on Cryptocurrency Trade to Stem Flight of Capital, Users: Report
India should consider lowering the 1 percent TDS imposed on cryptocurrency transactions, according to a joint report Chase India and Indus Law. The government, from April 1 last year, has brought in a 30 per cent income tax plus surcharge and cess on transfer of virtual digital assets (VDAs), including cryptocurrencies, like Bitcoin, Ethereum, Teth...
-
India’s Crypto Tax Regime Draws Criticism from Bharat Web3 Association, Details Here
The Bharat Web3 Association (BWA) has reportedly met with senior officials from India’s finance ministry to review and voice concerns about India’s crypto-related policies and judgement. The BWA, comprised of members from Indian crypto players like WaxirX and CoinSwitch Kuber, is looking to participate actively in helping India formulate adequa...
-
India Calls for Global Support to Regulate Crypto as RBI Favours Ban, Details Here
Indian finance minister Nirmala Sitharaman told the parliament on Monday that the RBI favours a ban on cryptocurrencies. The development comes at a time when the tax laws around virtual digital assets went live in India, slashing trade volumes on Indian exchanges. At this point, India still awaits laws on the crypto sector.
-
What You Need to Know About Crypto, NFT Laws in India
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,...
-
How the 1 Percent TDS Provision Will Affect the Growth of the Crypto Industry
The recently introduced 1 percent TDS on virtual digital asset (VDA) transactions, as part of the Finance Bill 2022, has been described as highly detrimental to the industry. The tax provision is expected to discourage entrepreneurs and investors from developing the burgeoning industry while the government could lose out on an opportunity to earn t...
-
IT Department Notifies TDS Disclosure Requirements for Crypto, Virtual Digital Assets
The income tax department has announcement TDS disclosure requirements for cryptocurrency, virtual digital assets. From July 1, 1 percent TDS will be charged on payments towards virtual digital assets or cryptocurrencies beyond Rs 10,000 in a year.
-
Crypto Tax FAQs to be Published in Next 22 Days Before July 1: India’s Tax Board Chief
Sangeeta Singh, the chairperson of CBDT has said that FAQs around crypto taxations in India will be released around July 1. These FAQs will help the Indian crypto community get clarifications on the taxation of virtual digital assets. As per Sangeeta Singh, the chairperson of CBDT, these FAQs will be released around July 1.
-
Crypto Trading Volume Nosedives in India Days After Tax Rule Implemented: Crebaco
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.
-
India’s Crypto Tax Comes Into Effect Today, Violators Stare at Jail Time Up to 7 Years
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 ...
-
Crypto Tax Amendments Approved by Lok Sabha, Set to Be Implemented Starting April 1
Taxation of virtual digital assets (VDAs) or "crypto tax" proposed in the Union Budget 2022-23 is set to be implemented from April 1, as the Lok Sabha passed the Finance Bill, 2022.
