The number of people investing in cryptocurrencies in the country continues to grow, even though the government has imposed a hefty 30 percent tax and one percent TDS on the income generated from it. Now a big update has come from the government regarding crypto in India. Ajay Seth, Secretary, of the Department of Economic Affairs, said regarding cryptocurrencies that the consultation paper in this regard is almost ready. He said that every aspect has been thoroughly discussed in making it.
Ajay Seth made this big statement while talking to reporters during a program on Monday. He said that it is very important to have a global consensus on central cryptocurrencies. But the government will look into the steps taken by other countries before regulating cryptocurrencies to protect Indian investors. He said that we have had extensive discussions and consulted not only domestic stakeholders but also organizations like IMF, and World Bank. We are hopeful that we will finalize the consultation paper soon.
The economic affairs secretary said that what the government intends and what it thinks about cryptocurrencies has been told by Prime Minister Narendra Modi during the Sydney conference a long time ago. After this, he spoke on more than one forum. Apart from this, the Finance Minister to the RBI, have presented their opinion about this. Let us inform here that in the budget of the financial year 2022-23, the Government of India had imposed a 30 percent tax on profits from cryptocurrency transactions and one percent TDS on transactions, which has been implemented on April 1, but Cryptocurrencies are not yet recognized in the country.
Apart from 30 percent tax and one percent TDS, preparations have also intensified to bring cryptocurrencies under the ambit of Goods and Services Tax (GST) in the country. The GST Council also wants to impose an additional 28 percent tax on crypto in addition to the 30 percent tax levied earlier. The council is looking at investing in cryptos like gambling, casinos, and lotteries. However, if the Secretary of Economic Affairs is to be believed, the consultation paper prepared by the government will be presented as soon as possible. In such a situation, it is expected that soon the government can make a big decision regarding crypto in the country.
Also Read: RBI gives relief: Net worth limit for Bharat Bill Payment Units has been reduced, now to Rs 25 crore
Bangladeshi government declared ISKCON a fundamentalist religious organization, a petition filed for the ban, know 10 big latest updates.
After the arrest of ISKCON saint Chinmay Krishna Das, there have been continuous protests in Bangladesh. After this, concerns have increased about the safety of Hindus and other religious minorities
Petrol Diesel Price Today: Oil companies released the prices of petrol and diesel, know the prices of your city
Petrol Diesel Price: Oil companies have released the prices of petrol and diesel for today. Today companies have changed the prices of oil in Delhi and Chennai. A few months back, the government
IND vs PAK: Virat Kohli's cover drive wreaked havoc on Pakistan; Why is this shot loved so much? He revealed the secret.
India has defeated Pakistan by six wickets in the Champions Trophy. In this match played at Dubai International Cricket Stadium, India achieved Pakistan's target of 242 runs by losing four wickets in
Congratulations! Rashmika Mandanna announces her engagement; will she become Vijay Deverakonda's bride this month?
After South, Rashmika Mandanna is now proving her acting prowess in Bollywood as well. Following her Diwali release, "Chhava," her Diwali release, "Thama," is also earning well at the box office.
COVID-19: Corona cases increased again, 21,566 new cases in 24 hours, infection rate 4.25 percent
On Thursday, a jump in new cases of the corona was registered in the country. In the last 24 hours, 21,566 new cases have been reported. Active cases are also increasing to close to one and a half
Disha Patani's soldier sister got angry about the Pahalgam terrorist attack, and said - 'Let the war happen now'
Terrorists have created a havoc of death in Pahalgam, Jammu, and Kashmir, which is called heaven on earth, on Tuesday. During this, they killed 26 people by asking about their religion. There is a lot
Bade Miyan Chote Miyan: This video of 'Bade Miyan Chote Miyan' released before the trailer, created a stir on social media
Akshay Kumar and Tiger Shroff's film 'Bade Miyan Chhote Miyan' is going to be released in just a few days. With the end of Ramadan, this film will hit the theaters on Eid. The songs and teaser of the
Breaking News: Supreme Court reprimanded Nupur for saying controversial things about the Prophet, said- apologies to the country for this
Nupur Sharma has been strongly reprimanded by the Supreme Court for her controversial statement on the Prophet. The court has asked him to apologize to the country. Nupur Sharma, suspended from BJP,
Andhra Pradesh: First flood alert at Prakasam barrage, Meteorological department issues alert
The first flood warning was issued at Prakasam Barrage in Andhra Pradesh's Vijayawada on Friday morning. A high alert has been issued in the low-lying areas of the Krishna river. Explain that the
Vikas Bharat Sankalp Yatra: PM Modi will talk to the beneficiaries today, Union Ministers-MPs will also participate
Prime Minister Narendra Modi will interact with the beneficiaries of 'Vikas Bharat Sankalp Yatra' through video conference on Monday. The Prime Minister's Office has issued a statement giving this
