India’s crypto exchanges cheer the clarification issued on new tax rules

india s crypto exchanges cheer the clarification issued on new tax rules

Pressbee - Quartz :

Watch the post from India’s crypto exchanges cheer the clarification issued on new tax rules, Now to the details :

The Indian government has brought in some much-needed clarity—and cheer—in the matter of taxing digital token transactions.The union budget for 2022-23 had declared a 30% tax on income from cryptocurrencies from the new financial year and a 1% TDS on all crypto transactions starting July 1. This had left the industry under a cloud, shrinking trade volumes.On June 22, however, the central board of direct taxes (CBDT) clarified (pdf) how firms could comply with the revised tax.Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s journalism.

For more, read the news from the source

India’s crypto exchanges cheer the clarification issued on new tax rul

This was the summery for India’s crypto exchanges cheer the clarification issued on new tax rules We hope that we have succeeded by sharing the full details of this topic.

Quartz India’s crypto exchanges cheer the clarification issued on new tax rules The Indian government has brought in some much-needed clarity—and cheer—in the matter of taxing digital token transactions.The union budget for 2022-23 had declared a 30% tax on income from cryptocurrencies from the new financial year and a 1% TDS on all crypto transactions starting July 1. This had left the industry under a cloud, shrinking trade volumes.On June 22, however, the central board of direct taxes (CBDT) clarified (pdf) how firms could comply with the revised tax.Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s journalism.

Please note that the original topic has been published and is available on Quartz the editing team at PressBee have verified it and it may have been partially modified or quoted from it. You can read and follow this news or topic from its main source.

( PRESSBEE ) An independent news reader does not assume any liability for the material published in it because it does not express the opinion of the site.