Income Tax Regulations
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Japan’s Financial Regulator May Cut Crypto Tax, Encourage Investors to Engage with VDAs
In Japan, crypto-generated earnings are currently taxed between 15 and 55 percent. However, authorities are considering reducing this tax rate to a flat 30 percent for corporate investors and 20 percent for individual investors in FY 2025.
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India GST Council Plans to Levy 28 Percent GST on Crypto Transactions: Report
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.
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Indonesia to Impose VAT, Income Tax on Crypto Assets From May
Indonesia plans to charge value-added tax (VAT) on crypto asset transactions and an income tax on capital gains from such investments at 0.1 percent each, starting from May 1, a tax official said.
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Transactions Worth Rs 3,000 Crore Detected After Income Tax Department Raid On Omaxe Group
The income tax department has gathered "evidence" that Omaxe group allegedly indulged in "unaccounted" cash transactions with customers
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India's New Tax Rule On Crypto Losses "Detrimental," Says Exchange Chief
The government's clarification of disallowing losses incurred in a particular digital asset to be set off against income from another version of a crypto holding is "detrimental for India's crypto industry and the millions who have invested in this emerging asset class," said Ashish Singhal, Co-founder and CEO of CoinSwitch, one of India's top cryp...
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Crypto Tax: Most Industry Insiders Laud India’s 'Regulate Over Restrict' Approach, But Few Concerns Remain
Finance Minister Nirmala Sitharaman levied a 30 percent tax on income generated from the transfer of virtual digital assets. While she did not provide details on what classifies as “virtual digital assets”, crypto industry insiders have welcomed the developments. They are viewing this taxation as the government’s way of indirectly legitimisin...
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Union Budget 2022: Digital Rupee Using Blockchain Technology to Be Launched by RBI in 2022-23
India will be getting its blockchain-backed digital currency this year, Finance Minister Nirmala Sitharaman said in her Union Budget speech on February 1, 2022. The Central Bank Digital Currency or CBDC will be regulated by the Reserve Bank of India. While Sitharaman did not announce any plans of banning the crypto sector, she did reveal a tax on c...
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South Korea Says It Is Exploring Taxing Non-Fungible Tokens
South Korea aims to use one of its existing laws to tax incomes earned from buying or selling these valuable non-fungible tokens.
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Tax Deadlines Now June 30, No Fee For ATM Withdrawals From Any Bank
Announcing a slew of relaxation measures related to compliance and regulation, Finance Minister Nirmala Sitharaman on Tuesday said that the deadline for filing income tax returns for the financial year 2018-19 has been extended till 30 June, 2020 from the existing last date of 31 March.
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All You Need To Know About PM Shram Yogi Maan-Dhan (SYM) Pension Scheme
Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM) is a government-sponsored voluntary and contributory pension scheme for unorganised workers. Pension scheme PM-SYM or Pradhan Mantri Shram Yogi Maan-Dhan admits unorganised workers in the age group of 18-40 years with a monthly income up to Rs 15,000, and offers a minimum guaranteed pension of Rs 3,000 a...
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Post Office National Pension System: Income Tax Benefits, Transaction Charges, Other Details
National Pension System (NPS) is administered and regulated by Pension Fund Regulatory and Development Authority (PFRDA).
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Infosys Foundation, Skoda Auto Served Notice For Not Filing Tax Returns
1,775 entities issued show-cause notice under the Foreign Contribution (Regulation) Act for their failure to submit annual income and expenditure statements on foreign fundings.
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Income Tax Department Inspects Jet Airways Books: Report
Jet Airways, which is grappling with financial woes, is already under the scanner of markets regulator Sebi and the Corporate Affairs Ministry for various alleged lapses.
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How To Make Most Of Atal Pension Scheme: Age Limit, Contribution, Tax Treatment And More
Pension scheme APY (Atal Pension Yojana) is a pension scheme administered by pension fund regulator PFRDA that accepts applications from investors between 18 and 40 years of age. The Atal pension scheme offers a fixed pension ranging from Rs 1,000 per month to Rs 5,000 per month after the investor attains the age of 60 years. Subscribing to the Ata...
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Income Tax Department To Crack Down On Panama Paper Leak Cases. 10 Points
The Panama Paper leaks involving 426 persons have been investigated by the Income Tax Department and other member agencies of multi agency group
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Japan’s Financial Regulator May Cut Crypto Tax, Encourage Investors to Engage with VDAs
In Japan, crypto-generated earnings are currently taxed between 15 and 55 percent. However, authorities are considering reducing this tax rate to a flat 30 percent for corporate investors and 20 percent for individual investors in FY 2025.
-
India GST Council Plans to Levy 28 Percent GST on Crypto Transactions: Report
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.
-
Indonesia to Impose VAT, Income Tax on Crypto Assets From May
Indonesia plans to charge value-added tax (VAT) on crypto asset transactions and an income tax on capital gains from such investments at 0.1 percent each, starting from May 1, a tax official said.
-
Transactions Worth Rs 3,000 Crore Detected After Income Tax Department Raid On Omaxe Group
The income tax department has gathered "evidence" that Omaxe group allegedly indulged in "unaccounted" cash transactions with customers
-
India's New Tax Rule On Crypto Losses "Detrimental," Says Exchange Chief
The government's clarification of disallowing losses incurred in a particular digital asset to be set off against income from another version of a crypto holding is "detrimental for India's crypto industry and the millions who have invested in this emerging asset class," said Ashish Singhal, Co-founder and CEO of CoinSwitch, one of India's top cryp...
-
Crypto Tax: Most Industry Insiders Laud India’s 'Regulate Over Restrict' Approach, But Few Concerns Remain
Finance Minister Nirmala Sitharaman levied a 30 percent tax on income generated from the transfer of virtual digital assets. While she did not provide details on what classifies as “virtual digital assets”, crypto industry insiders have welcomed the developments. They are viewing this taxation as the government’s way of indirectly legitimisin...
-
Union Budget 2022: Digital Rupee Using Blockchain Technology to Be Launched by RBI in 2022-23
India will be getting its blockchain-backed digital currency this year, Finance Minister Nirmala Sitharaman said in her Union Budget speech on February 1, 2022. The Central Bank Digital Currency or CBDC will be regulated by the Reserve Bank of India. While Sitharaman did not announce any plans of banning the crypto sector, she did reveal a tax on c...
-
South Korea Says It Is Exploring Taxing Non-Fungible Tokens
South Korea aims to use one of its existing laws to tax incomes earned from buying or selling these valuable non-fungible tokens.
-
Tax Deadlines Now June 30, No Fee For ATM Withdrawals From Any Bank
Announcing a slew of relaxation measures related to compliance and regulation, Finance Minister Nirmala Sitharaman on Tuesday said that the deadline for filing income tax returns for the financial year 2018-19 has been extended till 30 June, 2020 from the existing last date of 31 March.
-
All You Need To Know About PM Shram Yogi Maan-Dhan (SYM) Pension Scheme
Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM) is a government-sponsored voluntary and contributory pension scheme for unorganised workers. Pension scheme PM-SYM or Pradhan Mantri Shram Yogi Maan-Dhan admits unorganised workers in the age group of 18-40 years with a monthly income up to Rs 15,000, and offers a minimum guaranteed pension of Rs 3,000 a...
-
Post Office National Pension System: Income Tax Benefits, Transaction Charges, Other Details
National Pension System (NPS) is administered and regulated by Pension Fund Regulatory and Development Authority (PFRDA).
-
Infosys Foundation, Skoda Auto Served Notice For Not Filing Tax Returns
1,775 entities issued show-cause notice under the Foreign Contribution (Regulation) Act for their failure to submit annual income and expenditure statements on foreign fundings.
-
Income Tax Department Inspects Jet Airways Books: Report
Jet Airways, which is grappling with financial woes, is already under the scanner of markets regulator Sebi and the Corporate Affairs Ministry for various alleged lapses.
-
How To Make Most Of Atal Pension Scheme: Age Limit, Contribution, Tax Treatment And More
Pension scheme APY (Atal Pension Yojana) is a pension scheme administered by pension fund regulator PFRDA that accepts applications from investors between 18 and 40 years of age. The Atal pension scheme offers a fixed pension ranging from Rs 1,000 per month to Rs 5,000 per month after the investor attains the age of 60 years. Subscribing to the Ata...
-
Income Tax Department To Crack Down On Panama Paper Leak Cases. 10 Points
The Panama Paper leaks involving 426 persons have been investigated by the Income Tax Department and other member agencies of multi agency group
