IMAGE 1655957039 More Tax on Cryptos Soon, Crypto Market Falls

More Tax on Cryptos Soon, Crypto Market Falls

* The income tax department will issue a new form, Form 26QE, for TDS (tax deducted at source) on cryptocurrency transactions.
* Form 26QE will serve the dual purpose of tax deducted statement and receipt.
* The 1 per cent TDS on crypto transactions ruling comes into effect from July 1, 2022.
* The central government may impose an additional tax on cryptocurrency transactions.
* The government may consider bringing crypto transactions under GST and impose a 28 per cent tax on it.

 

 

IMAGE 1655957039 More Tax on Cryptos Soon, Crypto Market Falls
More Tax on Cryptos Soon, Crypto Market Falls 3

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