Virtual digital assets Archives

Compliance under PMLA, demands reporting entities’ registration and adherence to regulatory norms like KYC, transaction records, and reporting of suspicious activities

Laws

28 crypto/ VDA platforms register with FIU-India to comply with PMLA...

Team PGurus - December 4, 2023 0

Offshore crypto exchanges must register with India’s FIU: Finance Ministry As many as 28 Virtual Digital Assets (VDA) service providers, including WazirX, Coin DCX, and...

One thing GOI loves to do - tax its citizens… Have they put enough thought into this or is it the case of killing the goose that lays golden eggs?

Banking

Income Tax Department says buyer to deduct TDS on peer-to-peer Cryptocoin...

Team PGurus - June 28, 2022 0

CBDT issues clarification on TDS provision applicable on transfer of VDAs Further tightening the Cryptocoin trading in India, the Income Tax Department on Tuesday said...

In the eyes of the Finance Ministry, is a virtual asset (i. e. NFT) the same as a real asset e. g. stock, gold?

Laws

Finance Ministry proposes amendments to Finance Bill to tighten norms for...

Team PGurus - March 24, 2022 1

Finance Ministry proposes to remove the word 'other' from section relating to set off of losses from gains in VDA India’s Finance Ministry on Thursday...

Crypto tax on gains but no deductions on losses incurred, says Government of India

Investing

Crypto mining cost or loss in Crypto not to be allowed...

Team PGurus - March 22, 2022 0

Govt of India clarifies a straight tax of 30% for profit The Government of India on Monday informed Parliament that no kind of deduction or...

Warnings like the Cigarette-Smoking-is-injurious… to be mandated for crypto ads by the Indian government

Investing

New norms for Cryptocurrency Advertisers in India. Must carry ‘unregulated’, ‘can...

Team PGurus - February 23, 2022 1

A timely reminder to the investors of the risks involved in trading cryptos In a bid to warn the investors of the illegal cryptocurrency, the...

Nirmala Sitharaman's statement on Crypto Currencies leaves many unanswered questions

Budget

Crypto Currencies: India not going to legalize or ban. But will...

Team PGurus - February 11, 2022 0

Hands-off policy on Crypto Currencies by GOI an interesting stand Finance Minister Nirmala Sitharaman on Friday told the Parliament that the government at this stage...