virtual digital assets

PMLA regulations will now apply to all VDA exchanges, NFT platforms and wallet operators, thereby casting a wide net over the industry.Cross-border money laundering has become an activity of serious concern in modern timesEarlier this…

India's money laundering laws will apply to trade in cryptocurrencies, the federal government said in a notification dated March 7.The exchange between virtual digital assets and fiat currencies, the exchange…

<!-- -->Exchange and transfer of virtual digital assets would also fall under PMLA laws. (Representational)New Delh: The finance ministry today announced that cryptocurrency transactions would now come under the ambit of money…

India should consider lowering the 1 percent TDS on cryptocurrency trade as a high rate is causing a flight of capital and users to platforms in foreign jurisdictions and the grey market, a report said on Tuesday.The 'Impact Assessment of 1…

The Central Board of Direct Taxes (CBDT), which is part of the Ministry of Finance’s revenue division, has said that only NFT trades without a concurrent sale of the underlying physical asset will be subject to the tax rates laid forth for…

NEW DELHI: The income tax department on Tuesday said both buyer and seller will have to withhold taxes for transactions involving an exchange of one virtual asset for another. Issuing a further set of clarification, the Central Board of…

<!-- -->TDS deduction will be applicable to all virtual digital asset transfers including cryptocurrenciesAfter the 30 per cent tax rate introduced by the Government in the Union Budget 2022-23, cryptocurrency sale transactions are…

The income tax department has come out with detailed disclosure requirements for TDS deductions for virtual digital assets, under which date of transfer and mode of payment will have to be specified. From July 1, tax deducted at source…

<!-- -->Income tax department clarified that TDS on virtual digital assets remains at 1 per centIn a confusion of sorts, the income tax department portal on Wednesday updated its document on tax deductible at source (TDS), reiterating…

Mumbai: Questioning the `shadow ban’ on cryptocurrencies, leading banks have asked the umbrella institution National Payments Corporation of India (NPCI) to spell out in a formal directive the curbs on the use of the popular money transfer…