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CRYPTO TAX EVASION
India recasts rules for foreign tax info exchange: New framework from July 1 aims to curb cross-border tax evasion & speed up case closureIndia has updated its rules for sharing tax information with other countries. New rules make foreign tax requests high priority, requiring ...- Make sharing crypto data less crypticIndia is set to launch a new system for reporting crypto transactions by next year. This initiative aims to boost international tax transpa...
- India to begin cross-border crypto data exchange from April 2027India will begin exchanging cryptocurrency transaction data internationally from April 1, 2027. This aligns with the OECD's Crypto-Asset Re...
- Budget proposes penalties for crypto firms over lapses in transaction disclosuresUnder Section 509 of the Income Tax Act, crypto exchanges and intermediaries are required to submit periodic statements detailing crypto-as...
- How the I-T is hunting India’s hidden crypto wealthThe Income Tax department is training its officials to identify crypto assets during raids. Officers are learning to spot digital clues and...
- Explained: CBDT targets unaccounted income invested in cryptoThe aim is to curb tax evasion and the laundering of unaccounted funds. The CBDT has identified some "high-risk persons" who are investing ...
- At least 300 private equity firms, promoters get I-T noticesThe income-tax department has sent notices to around 300 private equity firms and promoters for suspected capital gains tax evasion, detect...
- EU states approve world's first comprehensive crypto rulesAn EU finance minister meeting in Brussels approved rules that were thrashed out with the European Parliament, which gave its approval in A...
- India for expanding scope of AEOI on non-financial assetsIndia has pitched for expanding the scope of automatic exchange of info or AEOI on non-financial assets including crypto and properties to ...
- India to bat for info sharing on property, digital assets at G20"One proposal India will be pitching is expanding the scope and of information sharing under CRS with other assets beyond financial account...
- ED attaches Rs 907 crore, arrests 3 in relation to money laundering by crypto exchangesMinister of State for Finance Pankaj Chaudhary said Central GST officers have detected Goods and Services Tax (GST) evasion worth ₹87.60 cr...
- ED attaches Rs 907 crore assets of crypto exchanges under PMLAIn a written reply to a question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said the Directorate of Enforcement is in...
- GST evasion of Rs 23,000 cr by gaming companies in April 2019-Nov 2022 period being investigatedIn a written reply to a question in the Lok Sabha, the minister said the Enforcement Directorate has attached proceeds of crime of more tha...
- Finance Minister Nirmala Sitharaman calls for effective tax reporting regimeParticipating in the G20 Finance Ministers and Central Bank Governors meeting here on the sidelines of the annual meetings of the IMF and t...
- FM Nirmala Sitharaman calls for sharing information on non-financial AssetsFinance minister Nirmala Sitharaman on Thursday called on G20 countries to ensure that the developing nations are guarded against any "unin...
- Eleven Indian crypto exchanges evaded Rs 81.5 cr GST, government saysChaudhary said while the government does not collect any data on cryptocurrency exchanges, a few “cases of evasion of Goods and Services Ta...
- Crypto platforms lack clarity on tax provisions: IndustryAfter the Goods and Services Department, which slapped a ₹40 crore GST demand on crypto exchange WazirX last month, the Directorate General...
- DGGI cracks down on Cryptocurrency exchanges across country, Rs 70 crore tax evasion detected"The DGGI is investigating Coinswitch Kuber by M/s Bitcipher Labs LLP, CoinDCX by M/s Neblio Technologies PVT. LTD., BuyUCoin by M/S I Bloc...
- Crypto exchange WazirX dodged Rs 40.5 crore in tax, says GST departmentLate on Thursday evening, the tax department recovered Rs 49.2 crore from the company – the GST owed plus interest and penalties.
- Will Modi govt kill Bitcoin for its own Lakshmi? Tax department mulls ban, says reportFinance Minister Arun Jaitley had clarified in his Budget speech that cryptocurrencies were illegal and the government would not recognise ...
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