“Vivisection of Cryptocurrencies” by Adv. K. Vaitheeswaran!
- Year of Publication: 2022
- ISBN: 0
Episode Duration:
85 minutes
Episode Background:
In her Budget 2022 Speech, Finance Minister Mrs. Nirmala Sitharaman announced that, “There has been a phenomenal increase in transactions in virtual digital assets. The magnitude and frequency of these transactions have made it imperative to provide for a specific tax regime. Accordingly, for the taxation of virtual digital assets, I propose to provide that any income from transfer of any virtual digital asset shall be taxed at the rate of 30 per cent.” She further proposed that no set off will be allowed in case of losses. Also, gifts in virtual digital assets (crypto-assets) would be taxed in the hands of the recipient.
What shall the episode cover?
Against this backdrop, Taxsutra is delighted to present to you a special episode on “Vivisection of Cryptocurrencies and Crypto-assets” by Advocate K. Vaitheeswaran.
Key Highlights
In this episode, the speaker has deep dived into the following areas:
- Demystifying Cryptocurrencies & Crypto-assets
- Use cases of Blockchain
- Transactions in Crypto and Other Laws
- Analysis of the Proposed Amendments to the Income Tax Act, 1961 for taxing Virtual Digital Assets
- Birds Eye View on GST Implications
K Vaitheeswaran has 30 years of experience in dispute advisory and litigation, consulting clients across the country in all practice areas. He is considered a specialist in tax and legal matters. He is a prolific writer and has authored various books on taxation and has contributed to innumerable articles, both in print and digital media. He regularly addresses seminars and conferences on law and taxation across the country and abroad. He has now forayed into the fields of Data Protection, Technology Law and Artificial Intelligence.
Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.
Taxsutra suite of portals :
1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt)
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law
6. Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)
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Ratings and Reviews
Overall Rating
- Year of Publication: 2022
- ISBN: 0
Episode Duration:
85 minutes
Episode Background:
In her Budget 2022 Speech, Finance Minister Mrs. Nirmala Sitharaman announced that, “There has been a phenomenal increase in transactions in virtual digital assets. The magnitude and frequency of these transactions have made it imperative to provide for a specific tax regime. Accordingly, for the taxation of virtual digital assets, I propose to provide that any income from transfer of any virtual digital asset shall be taxed at the rate of 30 per cent.” She further proposed that no set off will be allowed in case of losses. Also, gifts in virtual digital assets (crypto-assets) would be taxed in the hands of the recipient.
What shall the episode cover?
Against this backdrop, Taxsutra is delighted to present to you a special episode on “Vivisection of Cryptocurrencies and Crypto-assets” by Advocate K. Vaitheeswaran.
Key Highlights
In this episode, the speaker has deep dived into the following areas:
- Demystifying Cryptocurrencies & Crypto-assets
- Use cases of Blockchain
- Transactions in Crypto and Other Laws
- Analysis of the Proposed Amendments to the Income Tax Act, 1961 for taxing Virtual Digital Assets
- Birds Eye View on GST Implications
K Vaitheeswaran has 30 years of experience in dispute advisory and litigation, consulting clients across the country in all practice areas. He is considered a specialist in tax and legal matters. He is a prolific writer and has authored various books on taxation and has contributed to innumerable articles, both in print and digital media. He regularly addresses seminars and conferences on law and taxation across the country and abroad. He has now forayed into the fields of Data Protection, Technology Law and Artificial Intelligence.
Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.
Taxsutra suite of portals :
1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt)
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law
6. Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)
