As India's day of reckoning with the highly controversial 1% crypto tax deducted at source (TDS) has arrived, here's the latest breakdown of what's happening and how we got here. By amitoj
issued on June 30, the government announced that there is no need to pay 30% tax and 1% TDS on some NFTs and digital assets.
Mileage points, reward points or loyalty cards, without direct monetary consideration under an award, benefit, loyalty, incentive, rebate or promotional program have also been excluded. The same applies for subscriptions to websites or platforms or applications.Why the 1% TDS is controversialfrom India's crypto community. Their biggest bone of contention was the 1% TDS.
Over the next two months, representatives of the crypto industry met and pleaded with government representatives to at least take back this specific provision. On the other hand, India's finance minister Nirmala Sitharaman argued"that the government is taxing crypto because people are profiting from it," and that the goal is to"check the source and trail" without legitimizing crypto.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
India bans on single-use plastic to combat pollutionIndia on Friday imposed a ban on single-use plastics on items ranging from straws to cigarette packets to combat worsening pollution in country whose streets are strewn with waste.
Les mer »
Like California, India starts phasing out single-use plasticIndia is banning some single-use plastic products as part of a federal plan to phase out the ubiquitous material in the nation of nearly 1.4 billion people.
Les mer »
Billionaire Mukesh Ambani is bringing Pret A Manger stores to IndiaOne of the world's richest men is launching Pret A Manger in India, adding the British coffee and sandwich store brand to a huge business empire that spans energy, retail and telecommunications.
Les mer »
Mudslide leaves 16 dead, over 70 missing in northeast IndiaGAUHATI, India (AP) — Rescuers found two more bodies as they resumed clearing operations after an overnight halt looking for nearly 70 missing people after a mudslide triggered by weeks of heavy downpours killed at least 16 people at a railroad construction site in India's northeast, officials said Friday.
Les mer »
Landslide kills 14 in eastern India, nearly 50 others feared deadAt least 14 people have died and another four dozen are feared to have been killed after a massive landslide in a remote area of the northeastern Indian state of Manipur, officials said on Thursday.
Les mer »
New Maruti Suzuki Brezza Revealed In India With Mild-Hybrid Tech | CarscoopsNew Maruti Suzuki Brezza Revealed In India With Mild-Hybrid Tech | Carscoops carscoops
Les mer »