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Virtual Digital Assets

India Steps Up Tax Monitoring on Crypto and Cloud Storage Services

Adwaid M S

In a significant move to tighten financial oversight, India has enhanced its tax monitoring framework targeting the rapidly growing cryptocurrency...

Over ₹700 Cr Revenue in Two Years from Crypto/VDA Tax, Government Deploys Data Analytics to Tackle...

Income Tax Bill 2025: Officers Granted Overarching Powers to Demand Computer and VDA Access Codes...

Income Tax Act, 1961 v/s Income Tax Bill 2025: Key Provision Changes

Auditing Cryptocurrency - Know the Basics of Auditing Cryptocurrency - Auditing - site image

Auditing Cryptocurrency? know the basics and How to Report It

Key Changes Notified in ITR Filing Forms for FY23-24

The Central Board of Direct Taxes ( CBDT ) has officially released the Income Tax Return ( ITR ) forms for the financial year 2023-24 ( assessment year 2024-25 ). The new forms, ITR Forms 1 to 6,...

Budget 2024: Crypto Industry players hope 1% TDS to be Slashed

The crypto industry players demand the abolition of the 1% Tax Deducted at Source ( TDS ), a measure currently in place. Another demand is that the offsetting of losses against gains made should...

Budget 2024 - Interim Budget 2024 - Crypto Industry - Budget 2024 News - Budget 2024 crypto taxation - TAXSCAN

Maharashtra Govt notifies MGST Amendment Act, 2023 inserting Online Gaming Provisions

The Maharashtra Government has passed the Maharashtra Goods and Services (Second Amendment) Act, 2023 with a specific focus on addressing concerns related to 'Online Gaming' and 'Online Money...

Lok Sabha Passes CGST and IGST Amendment Bill Proposing 28% GST on Online Gaming

The Central Goods and Services Tax (Amendment) Bill and Integrated Goods and Services (Amendment) Bill proposing the 28% GST rate on online gaming, casinos and horse racing was passed in the Lok...

Govt notifies Exchange and Transfer of Virtual Digital Assets to be Regulated by PMLA [Read Notification]

The Central Government has notified in the official gazette that the exchange and transfer of Virtual Digital Assets (VDA) will be regulated under the Prevention of Money Laundering Act. The...

TDS on Virtual Digital Assets shall exclude GST: No further Deduction for Purchase of Goods, CBDT Clarifies [Read Circular]

The Central Board of Direct Taxes (CBDT) has issued a circular regarding the Tax Deduction at Source (TDS) on Virtual Digital Assets (VDA) transactions outside Exchange. Finance Act, 2022 inserted...

Everything You Need to Know About Cryptocurrency Taxation in India

Virtual Digital Assets(VDAs) and Cryptocurrencies - Know the Differences A Virtual Digital Asset (VDA) is any digital holding that has been encrypted on the blockchain, enabling anyone to confirm...