Navigating Cryptocurrency Regulations: An Overview
blog.adif.in
Recent Development Indian cryptocurrency traders are grappling with a new challenge as Income Tax Return (ITR) forms now require disclosure of virtual digital assets (VDAs). This inclusion has left traders unsure about whether to reveal their crypto holdings abroad to tax authorities, particularly if their VDAs are on offshore exchanges like Binance. The lack of clear policy guidelines further complicates matters, necessitating a unified approach to regulate the cryptocurrency sector, as highlighted in the Economic Survey, 2023.
Navigating Cryptocurrency Regulations: An Overview
Navigating Cryptocurrency Regulations: An…
Navigating Cryptocurrency Regulations: An Overview
Recent Development Indian cryptocurrency traders are grappling with a new challenge as Income Tax Return (ITR) forms now require disclosure of virtual digital assets (VDAs). This inclusion has left traders unsure about whether to reveal their crypto holdings abroad to tax authorities, particularly if their VDAs are on offshore exchanges like Binance. The lack of clear policy guidelines further complicates matters, necessitating a unified approach to regulate the cryptocurrency sector, as highlighted in the Economic Survey, 2023.