India Tax Reforms
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Union Budget 2024: No Tax Relief for Crypto Sector, Industry Takes Respite in Angel Tax Abolishment
The Union Budget that was unveiled on Tuesday without any reduction in one percent TDS on all crypto transactions that has been requested by the crypto industry. Meanwhile, the Web3 community continues to vouch for patience and belief in the government for comprehensive industry-specific reforms in the future.
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Investors Expect Crypto Tax Could Continue as Nirmala Sitharaman Returns as Finance Minister
The Indian crypto circle has been waiting for FM Sitharaman to revise the tax laws imposed over the crypto sector. Despite the outcry, the finance minister did not announce any taxation relief for the crypto sector while presenting the interim annual budget earlier this year. Her re-appointment to the finance minister’s position has sparked conce...
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CoinDCX Report Claims Lower TDS on Crypto Could Improve Compliance, Tax Transparency
CoinDCX has released a report that seeks reform in India's crypto tax regime. The crypto exchange's latest report is titled 'Redesigning TDS for Transparency and Compliance’ and highlights areas where reforms can be ushered in by the government.
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"Want An India That...": US Envoy Wants Reforms In Tax, Export Policies
US Ambassador Eric Garcetti on Tuesday pitched for reform in India's taxation and export control for deeper bilateral economic engagement and said the "rhetoric" that everything has to be made in India could slow down the pace of the country's growth
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#ReduceCryptoTax: India’s Web3 Community Demands Relief, Offers Ideas Ahead of Budget 2024
For the last two years, the Indian government has paid no heed to the sentiment of the Web3 community, that has been urging for a revision on crypto-related tax laws. Ahead of the upcoming budget announcement for the year 2024-2025, the Web3 community of India have hit social networking platforms with the hashtag -- ‘#ReduceCryptoTax’.
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Bill To Amend Central Goods And Services Tax Act Introduced In Lok Sabha
A bill to align provisions of the Central Goods and Services Tax Act with Tribunal Reforms Act to initiate the administrative process for operationalisation of the Goods and Services Tax Appellate Tribunals was introduced in Lok Sabha on Wednesday.
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Budget 2023: Investors Expect Centre To Focus On Tax Structure Reforms, Fiscal Consolidation
Investors are anticipating policy reforms to rationalise bottlenecks for growth such as subsidies and a clear roadmap for disinvestment targets.
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Opinion: GST, Historical Tax Reform, At 5 Years, Has Lost Its Way
Five years ago, India's federal and state governments struck a historic deal. From July 1, 2017, a uniform tax on goods and services - marketed by Prime Minister Narendra Modi as "One Nation, One Tax, One Market" - replaced a bewildering array of loc
-
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...
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GST Faces Its Biggest Challenge Yet After A Big Court Ruling
Several states are pressuring the ruling government to extend a program to continue compensation for losses from Goods and Services Tax (GST)or risk a stalemate in attempts to further simplify the structure
-
Budget 2022: ICAI Seeks Tax, Accounting Reforms
ICAI has sought about 14 tax and accounting reforms in the upcoming union budget, aimed at making laws simple, fair and less litigative
-
Scrapping Retro Tax Law To Record GST Mop-Up: 2021- A Year Of Many Firsts
With tax reforms such as faceless assessment taking roots, 2021 will go down as the year that pivoted the tax administration in a country aspiring to become the world's favourite investment destination.
-
GST Council Didn't Recommend To Bring Petroleum Products Under New Tax Regime
The GST Council has not recommended bringing petroleum products under the reformed taxation regime even as certain representations have been made to the government to include petrol and diesel in GST, Parliament was informed on Tuesday.
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"Telecom Sector Seeks Rationalisation Of Taxes, Spectrum At Lower Rates": Vodafone CEO
VIL Managing Director and CEO Ravinder Takkar while speaking at India Mobile Congress said recent reforms announced by the government are steps towards addressing financial stress and legacy issues in the sector.
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Global Minimum Tax In Final Stages Of Finalisation: Nirmala Sitharaman
India is on the verge of finalising the specifications of the two-pillar taxation proposal at the G-20 forum, said Nirmala Sitharaman
-
Union Budget 2024: No Tax Relief for Crypto Sector, Industry Takes Respite in Angel Tax Abolishment
The Union Budget that was unveiled on Tuesday without any reduction in one percent TDS on all crypto transactions that has been requested by the crypto industry. Meanwhile, the Web3 community continues to vouch for patience and belief in the government for comprehensive industry-specific reforms in the future.
-
Investors Expect Crypto Tax Could Continue as Nirmala Sitharaman Returns as Finance Minister
The Indian crypto circle has been waiting for FM Sitharaman to revise the tax laws imposed over the crypto sector. Despite the outcry, the finance minister did not announce any taxation relief for the crypto sector while presenting the interim annual budget earlier this year. Her re-appointment to the finance minister’s position has sparked conce...
-
CoinDCX Report Claims Lower TDS on Crypto Could Improve Compliance, Tax Transparency
CoinDCX has released a report that seeks reform in India's crypto tax regime. The crypto exchange's latest report is titled 'Redesigning TDS for Transparency and Compliance’ and highlights areas where reforms can be ushered in by the government.
-
"Want An India That...": US Envoy Wants Reforms In Tax, Export Policies
US Ambassador Eric Garcetti on Tuesday pitched for reform in India's taxation and export control for deeper bilateral economic engagement and said the "rhetoric" that everything has to be made in India could slow down the pace of the country's growth
-
#ReduceCryptoTax: India’s Web3 Community Demands Relief, Offers Ideas Ahead of Budget 2024
For the last two years, the Indian government has paid no heed to the sentiment of the Web3 community, that has been urging for a revision on crypto-related tax laws. Ahead of the upcoming budget announcement for the year 2024-2025, the Web3 community of India have hit social networking platforms with the hashtag -- ‘#ReduceCryptoTax’.
-
Bill To Amend Central Goods And Services Tax Act Introduced In Lok Sabha
A bill to align provisions of the Central Goods and Services Tax Act with Tribunal Reforms Act to initiate the administrative process for operationalisation of the Goods and Services Tax Appellate Tribunals was introduced in Lok Sabha on Wednesday.
-
Budget 2023: Investors Expect Centre To Focus On Tax Structure Reforms, Fiscal Consolidation
Investors are anticipating policy reforms to rationalise bottlenecks for growth such as subsidies and a clear roadmap for disinvestment targets.
-
Opinion: GST, Historical Tax Reform, At 5 Years, Has Lost Its Way
Five years ago, India's federal and state governments struck a historic deal. From July 1, 2017, a uniform tax on goods and services - marketed by Prime Minister Narendra Modi as "One Nation, One Tax, One Market" - replaced a bewildering array of loc
-
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...
-
GST Faces Its Biggest Challenge Yet After A Big Court Ruling
Several states are pressuring the ruling government to extend a program to continue compensation for losses from Goods and Services Tax (GST)or risk a stalemate in attempts to further simplify the structure
-
Budget 2022: ICAI Seeks Tax, Accounting Reforms
ICAI has sought about 14 tax and accounting reforms in the upcoming union budget, aimed at making laws simple, fair and less litigative
-
Scrapping Retro Tax Law To Record GST Mop-Up: 2021- A Year Of Many Firsts
With tax reforms such as faceless assessment taking roots, 2021 will go down as the year that pivoted the tax administration in a country aspiring to become the world's favourite investment destination.
-
GST Council Didn't Recommend To Bring Petroleum Products Under New Tax Regime
The GST Council has not recommended bringing petroleum products under the reformed taxation regime even as certain representations have been made to the government to include petrol and diesel in GST, Parliament was informed on Tuesday.
-
"Telecom Sector Seeks Rationalisation Of Taxes, Spectrum At Lower Rates": Vodafone CEO
VIL Managing Director and CEO Ravinder Takkar while speaking at India Mobile Congress said recent reforms announced by the government are steps towards addressing financial stress and legacy issues in the sector.
-
Global Minimum Tax In Final Stages Of Finalisation: Nirmala Sitharaman
India is on the verge of finalising the specifications of the two-pillar taxation proposal at the G-20 forum, said Nirmala Sitharaman
