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CRYPTOCURRENCY TAX AUDITS
RBI tells parliamentary panel that virtual digital assets like cryptocurrency a threat to economyThe Reserve Bank of India has informed a parliamentary panel that virtual digital assets like cryptocurrency pose a threat to India's devel...- Parliament Standing Committee on Finance to review Virtual Digital Assets; RBI, ICAI to take partParliament's Standing Committee on Finance is set to scrutinize the regulatory future of Virtual Digital Assets (VDAs) on July 2nd. The com...
- America at 250: Why Trump's second term is reviving fears of an 'imperial presidency'As America marks its 250th anniversary, President Trump's actions have drawn comparisons to monarchy, with critics pointing to his use of p...
- Little Pepe (LILPEPE) price prediction: When this meme coin could hit $0.10, $0.25, and $0.30Little Pepe (LILPEPE) is rapidly progressing through its presale, raising over $28.1 million with its unique meme-only Layer 2 ecosystem. T...
- How Trump has used the presidency to benefit himself and his alliesPresident Trump's administration is reviewing a large fund proposed for supporters. This comes amid scrutiny over various financial dealing...
- Parliamentary panel expresses concern over investments in cryptocurrenciesA parliamentary panel has expressed alarm over thousands of crores invested in virtual digital assets. The committee is studying global app...
- Foreign betting sites pull a prank on taxmanOffshore gaming firms found a way to use the site name cgstahmedabadzone.gov.in to create additional, fake pages, complete with sub-links t...
- Canada Revenue Agency (CRA) cracks down on tax audits: Are you at risk for HST, Crypto, or Foreign asset scrutiny?Canada Revenue Agency (CRA) audits are increasing, focusing on key areas like HST builder audits, foreign exchange gains, offshore assets, ...
- How to report income from cryptocurrencies, NFTs, Virtual Digital Assets (VDA) in ITR formVirtual Digital Assets (VDA) like Bitcoin (BTC), or other cyptocurrencies, non-fungible tokens (NFT), metaverse tokens, other similar asset...
- Officers committee suggests deferment of decision on levying GST on cryptoThe committee of officers comprising both from Centre and states, referred to as Fitment Committee, felt that a deeper study was needed on ...
- FAQ on taxation of crypto, virtual digital assets in worksThe DEA, Revenue Department and the Reserve Bank are working to ensure that the taxation aspect is clear both for field tax offices as well...
- IT dept prepares to tax 30 per cent profits made on crypto transactionsThe new tax regime of cryptocurrency will fall under section 285BA and sub section (k) of IT Act. Where under rule 114 E, persons are requi...
- ICAI working on paper on cryptocurrency assetsThe report will cover taxation implications, valuation and auditing of crypto and other virtual digital assets (VDAs), the premier professi...
- ICAI working on research paper on cryptocurrenciesICAI President Debashis Mitra on Tuesday said the institute is working on a research paper on cryptocurrencies, which is expected to be rea...
- Crypto mining cost not to be allowed as deduction under I-T Act: FinMinThe 2022-23 Budget has brought in clarity concerning the levy of income tax on crypto assets. From April 1, a 30 per cent I-T plus cess and...
- Govt working on classification of cryptocurrency under GST lawGST officers are of the view that cryptos, by nature, are similar to lottery, casinos, betting, gambling, horse racing, which have 28 per c...
- India's cryptocurrency sector likely to update code of conductAn industry body made up of crypto selling platforms may appoint tax experts from Big Four audit firms for guidance, add warning labels whi...
- From scrapping retro tax law to record GST mop-up, 2021 a year of many firsts for revenue departmentWith tax reforms such as faceless assessment taking roots, 2021 will go down as the year that pivoted the tax administration in a country a...
- How to report cryptocurrency gains, losses in income tax returnWhile currently, there are no specific guidance/specific tax provisions on taxation of cryptos in the Income-tax Act, 1961 (the Act), one c...
- Own Bitcoin? You may be required to disclose it in I-T returnsCrypto players have requested the government to make specific provisions in the Income Tax Act that would lead to individual crypto holders...
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