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Income Tax > Income Tax Glossary

Income Tax Notice for Crypto Trading under Section 148

Data Upload: The ITD received additional data on crypto trading activities through the VRU/CRIU functionality on the Insight Portal of Income Tax.

GST on Supply of Cryptocurrency, NFT, VDA (Virtual Digital Asset)

Cryptocurrency and other digital assets have been the subject of extensive discussion among traders for many years. In the 2022 Budget, the finance minister provided clarity by classifying cryptocurrency and similar assets as Virtual Digital Assets (VDAs).

Tax on gifting Crypto, NFT, VDA in India

In India, cryptocurrency is categorized as a Virtual Digital Asset (VDA). The Budget 2022 brought new rules for taxing cryptocurrencies, NFTs (Non-Fungible Tokens), and other VDAs.

Income Tax for NRI and Foreign Income

Determining the tax liability of an NRI hinges upon their residential status for the year. It’s crucial to ascertain the residential status of an individual before delving into their tax obligations.

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