SIGN IN SUBSCRIBE

News Update

Air fares down by 14% to 61% after Govt steps in: ScindiaMPC goes for no change in repo rate; GDP growth projected to be 6.5%Even if China is a Candy, unplugging is only future for Western MNCs!Monsoon finally soaks Kerala today: IMDI-T - AO should not trigger reassessment proceedings simply on basis of information made available to him which had its source in insight portal: HCUK to host world’s first summit on AIDomestic pax doubled from 60 mn in 2014 to 143 mn in 2020: ScindiaCanadian wildfire smokes envelope North-East US; Air-quality warning issuedI-T- Late fees u/s 234E of Act can be levied only prospectively w.e.f. 01.06.2015 : ITATKenyan Finance Bill triggers protests; Police make good use of tear gas shellsIndian defence sector on cusp of major revolution under 'Aatmanirbhar Bharat': Defence SecyVolvo showcases first all-electric SUVST - A sub-contractor would be liable to pay Service Tax even if main contractor has discharged Service Tax liability on activity undertaken by sub-contractor in pursuance of contract: CESTATIndia will have 200 airports in next 5 yrs: Scindia25 lakh food business operators to be trained by FSSAI in next 3 yearsOver 80% Indian depositing Rs 2000 note in account; not exchanging: ReportST - Charges of suppression of tax are not sustainable when assessee is maintaining proper records & is filing statutory documents & also underwent an audit: CESTATIndia-US trade dialogue - Export control regulations reviewedIndia has emerged as 2nd Largest Producer of Crude Steel in world: Minister
 
TDS from transfer of Virtual digital assets aggregates to Rs 158 Cr upto Mar 20: MoS

By TIOL News Service

NEW DELHI, MAR 29, 2023: THE Direct tax collected by way of tax deducted at source under section 194S of the Income-tax Act, 1961, on payments made upon transfer of Virtual digital Assets (VDA), aggregates to Rs. 157.9 crore upto 20/03/2023 for FY 2022-23. This was stated by Union Minister of State for Finance, Pankaj Chaudhary, in a written reply to a question in Rajya Sabha yesterday.

The Minister stated that Crypto assets are currently unregulated in the country, however, transactions in cryptocurrencies are subjected to provisions of various laws like the Prevention of Money Laundering Act, 2002 and Income-Tax Act, 1961.

The Minister further stated that the Financial Stability Board states in its Consultative Document titled "Regulation, Supervision and Oversight of Crypto-Asset Activities and Markets," dated October 11, 2022 that investment and activity in the crypto asset market is largely self-contained and is mostly for speculative purposes with limited connections to the real economy.


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
TIOL Awards 2022 - Gold & Silver

VISION 360

Top News






Mr. Nikhil Gupta, Global Indirect Tax Lead, Wipro Enterprises Pvt Ltd sharing his thoughts at the TIOL Awards 2022 event.

TII LATEST

TIOLCORPLAWS LATEST




Mr. Vishweshwar Mudigonda, Partner, Deloitte Touche Tohmatsu India LLP sharing his thoughts at the TIOL Awards 2022 event.