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Cryptocurrency Gains May Be Taxed As Government Mulls Changing Income Tax Laws In Next Budget
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ndtv.comCurrently, there is no regulation or any ban on use of cryptocurrencies in the country.
The government is mulling changes in the income tax laws to bring cryptocurrencies under the tax net, with some changes that could form part of the Budget next year, a top official said. Revenue Secretary Tarun Bajaj said that in terms of income tax, some people are already paying capital gains tax on the income from cryptocurrency, and in respect of Goods and Services Tax (GST) also the law is "very clear" that the rate would be applicable as those in case of other services.
"We will take a call. I understand that already people are paying taxes on it. Now that it has really grown a lot, we will see whether we can actually bring in some changes in law
Read more on ndtv.comAbout this in other media
Centre may bring cryptocurrency exchanges under ambit of Sebi: Report moneycontrol.com /2 years ago
Income Tax Return: Along with tax on gains, software compatibility issues bother equity, MF investors financialexpress.com /2 years ago
South Korean legislators agree to delay taxation of cryptocurrency capital gains ambcrypto.com /2 years ago
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