Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Attempts have been made to crush democracy throughout Emergency: PM Modi

    June 27, 2022

    India to show right into a $30-trillion economic system in 30 years: Piyush Goyal

    June 27, 2022

    United Airlines's Inflation Warning

    June 27, 2022
    Facebook Twitter LinkedIn
    Trending
    • Attempts have been made to crush democracy throughout Emergency: PM Modi
    • India to show right into a $30-trillion economic system in 30 years: Piyush Goyal
    • United Airlines's Inflation Warning
    • Ecozen Solutions: Seeding deep tech into agri sector
    • NAACP Boston President Tanisha Sullivan urges Boston School Committee to ‘halt’ superintendent search course of
    • Indirect tax reforms: A job half completed; GST underperforms for its defective design, price hike agenda regressive
    • Your Queries – Mutual Funds: Medium finish of the yield curve seems engaging now
    • Republicans Could Lead on Mental Health Treatment
    Facebook Twitter LinkedIn
    Business KhabarBusiness Khabar
    • World
    • Business
      • Automotive
      • Industries
      • Opinion
    • Market
    • Money
      • Finance
      • Insurance
      • Investment
      • Schemes
    • Sports
    • Stories
    • Other
      • Career
      • Entrepreneurship
      • Property
    Business KhabarBusiness Khabar
    Home » Budget 2022 Expectations: Expected changes in tax rules related to cryptocurrencies, got these important tips
    Finance

    Budget 2022 Expectations: Expected changes in tax rules related to cryptocurrencies, got these important tips

    Business KhabarBy Business KhabarJanuary 14, 2022Updated:June 3, 2022No Comments
    Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Budget 2022 for Cryptocurrency Investors: If the government does not stop Indians from transacting in cryptocurrencies, it is expected that a regressive tax regime will be introduced for this.

    Budget 2022 for Cryptocurrency Investors: India’s cryptocurrency market has seen rapid growth in the last few years. It is estimated that investment by Indians in cryptocurrencies could increase to $241 million by 2030. According to a recent study by Nasscom and WazirX, India currently has the largest number of crypto owners globally, 100.7 million.

    Taxmann’s DGM Naveen Wadhwa says, “A bill was expected to be introduced during the winter session of Parliament to regulate cryptocurrency. However, it was not introduced. Now it is expected that the government can introduce this bill in the budget session. If the government does not stop Indians from transacting in cryptocurrencies, it is expected that a regressive tax regime will be introduced for the same.” Taking into account the market size, amount and risks associated with cryptocurrencies, the taxation of cryptocurrencies may be subject to the following changes –

    Rakesh Jhunjhunwala increased stake in this company, there has been a jump of more than 75% in the last one year

    TDS/TCS Provisions

    Tax experts are of the view that both the sale and purchase of cryptocurrencies in excess of the prescribed limit should be brought under the purview of TDS/TCS provisions. This will help the government to keep an eye on the investors.

    Transactions mentioned in the Financial Transaction Statement

    Both the sale and purchase of cryptocurrencies may be subject to reporting in the Financial Transaction Statement. Trading companies have already been referring to the sale and purchase of shares of mutual funds.

    WPI Inflation: WPI inflation at 13.56% in December, some decrease compared to November, yet WPI is in double digits for the ninth consecutive month

    higher tax rate

    Similar to winnings from lotteries, game shows, puzzles, etc., proceeds from the sale of cryptocurrencies should be taxed at a higher tax rate of 30%.

    damage not allowed

    Losses from the sale of cryptocurrencies should not be allowed to be adjusted against other income and also should not allow a ‘carry forward’.

    (Article: Sanjeev Sinha)

    Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

    .

    Budget 2022 Budget 2022 Cryptocurrency Income Tax rule Budget 2022 Cryptocurrency Income Tax Rules Budget 2022 Finance Minister Budget 2022 for Cryptocurrency Budget 2022 for Cryptocurrency Investors Budget 2022 Income Tax rule Budget 2022 Income Tax Rules cryptocurrency Cryptocurrency Investors finance minister Income Tax rule changes In Budget 2022 income tax rules change in budget 2022
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Business Khabar

    We aim to constantly bring to you all the latest and most updated industry news across all major categories. With a wide variety of topics and categories under our umbrella, we bring to you the latest news and activities in the top sought areas of public interest.

    Related Posts

    Attempts have been made to crush democracy throughout Emergency: PM Modi

    June 27, 2022

    India to show right into a $30-trillion economic system in 30 years: Piyush Goyal

    June 27, 2022

    NAACP Boston President Tanisha Sullivan urges Boston School Committee to ‘halt’ superintendent search course of

    June 27, 2022
    Recent Posts
    • Attempts have been made to crush democracy throughout Emergency: PM Modi
    • India to show right into a $30-trillion economic system in 30 years: Piyush Goyal
    • United Airlines's Inflation Warning
    • Ecozen Solutions: Seeding deep tech into agri sector
    • NAACP Boston President Tanisha Sullivan urges Boston School Committee to ‘halt’ superintendent search course of
    Top Posts

    Complete Information On How To Open Baby And Kids Store

    July 24, 2020

    How To Start Potato Onion Wholesale Business?

    July 28, 2020

    Small Business Ideas for Women: 5 businesses will be earning in lakhs

    July 28, 2020

    Budget 2021: You have an idea or suggestion, send it online to the government by 30 November; This is the way

    November 27, 2020
    Don't Miss
    News

    Attempts have been made to crush democracy throughout Emergency: PM Modi

    By Business KhabarJune 27, 2022

    Targeting the Congress, Prime Minister Narendra Modi stated on Sunday that makes an attempt have…

    India to show right into a $30-trillion economic system in 30 years: Piyush Goyal

    June 27, 2022

    United Airlines's Inflation Warning

    June 27, 2022

    Ecozen Solutions: Seeding deep tech into agri sector

    June 27, 2022
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    About Us
    About Us

    Business Khabar: Read latest business news, auto news, technology news, personal finance, industries news, investment & insurance news, startups & success stories.

    We're accepting new partnerships right now.

    Email Us: [email protected]

    Facebook Twitter LinkedIn
    Our Picks

    Sidhu Moosewala homicide: In Facebook put up, Neeraj Bawana gang vows revenge, says ‘result in two days’

    June 1, 2022

    11 Best Vegetables Business Ideas That You Can Start From Today

    October 24, 2018

    What is the meaning of ringing and calling in whatsapp call, can anyone hear your call, know the answer to every question!

    April 14, 2021
    Most Popular

    PM Modi to deal with mass gatherings in Gujarat on June 10, 18

    June 7, 2022

    These cheap plans of Jio, Airtel and Vi give daily data benefits with a validity of 84 days

    February 15, 2022

    CNI asks metropolis faculties to cut back summer season trip and begin bodily lessons from June 20

    June 19, 2022
    © 2022 Business Khabar. Designed by ThemeSphere.
    • About us
    • Contact
    • Contribute for us
    • Privacy Policy
    • Disclaimer

    Type above and press Enter to search. Press Esc to cancel.