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The Indian government has finally answered a long-standing doubt of the Indian crypto community regarding crypto taxation norms in yesterday’s Budget speech. The new norms will come into play from the 2022-2023 Financial year. The country’s Finance Minister Nirmala Sitharaman officially announced that any profit or income from digital assets would levy a tax of 30%. Plus, she further added that even the profit from the transfer of any digital assets would also levy the…

A few days back, the Indian tech industry association, IndiaTech which represent major crypto firms from the crypto industry like WazirX, CoinDCX and CoinSwitch Kuber, etc wrote a letter to the country’s Finance Miniter, Nirmala Sitharaman seeking a proper clarification on the administration’s stance on the current crypto firm operating laws and the tax laws imposed on the crypto industry in the country. IndiaTech further requested the government to introduce the impending Crypto Bill in…

One of the largest crypto exchanges of India, WazirX was recently all over the news for all the wrong reasons. As per the GST department of the Mumbai zone, an investigation was led against WazirX to look into its accounts where it had spotted an alarming tax discrepancy of about Rs 40.5 crore. Well, the issue was settled immediately as WazirX quickly cleared the outstanding tax along with the penalties which rounded up to a…