INDIANS HAVE GOOD NEWS OR BAD NEWS? India Defines Crypto, Tax Reporting Mandatory from 2026.
The Indian government under Prime Minister Narendra Modi has defined cryptocurrencies for the first time in their newly tabled Finance Bill 2025 on Saturday and proposed various reforms to encourage crypto transactions’ reporting, making it obligatory to report them while filing tax returns.
Now, as per the proposed Finance Bill 2025, cryptocurrencies will be defined as “crypto-asset being a digital representation of value that relies on a cryptographically secured distributed ledger or a similar technology to validate and secure transactions” with effect from April 1, 2026.
India’s Finance Minister Nirmala Sitharaman introduced the new Finance Bill 2025 in the Lok Sabha (lower house parliament) in New Delhi on Saturday whilst also presenting the union budget 2025. According to the newly tabled Finance Bill, a new sub-clause ‘D’ has been inserted in clause 47A of the Income Tax act, to identify cryptocurrencies. Indian Finance Minister Nirmala Sitharaman presenting Finance Bill 2025Till now, cryptocurren cies were clubbed under Virtual Digital Assets (VDAs) in India with 30% tax on capital gains plus an additional 1% Tax Deducted at Source (TDS). There has been no changes in the tax rates on crypto but the government has now tried to bring more clarity in the sector through the proposed reforms in the bill. Additionally, the Indian government has also included a new section 285 BAA making it “obligatory” for crypto investors to furnish information on their crypto transactions along with time duration while filing tax returns every financial year. The new proposed clause 285BAA reads, “Any person, being a reporting entity, as prescribed, in respect of a crypto-asset, shall furnish information in respect of a transaction of such crypto-asset in a statement, for such period, within such time, in such form and manner and to such income-tax authority, as prescribed.” The clause further states that if the reporting entity fails to report or wrongly reports about crypto assets transactions, then initially a notice period of 30 days will be given to the party to respond, after which, the penal provisions of income tax will be applied in case of failure to report. #AITokensBounce #IndiaCrypto $BTC
The tech billionaire is well known for his fascination with cryptocurrency, and his latest tweet had the $PEPE meme coin finally landing in the green zone after continuous decline following the “Liberation Day” tariffs announcement.
$PEPE was trading at $0.056998 an hour after Musk’s tweet, as per Kraken’s price feeds. The token reflected a hike of more than 15% over the last 24 hours.
Big Crypto Player's Bitcoin Bet is Paying Off As Stock Soars.
MicroStrategy's bet on Bitcoin is paying off handsomely as the big crypto player's stock soared 4% on Monday.
MicroStrategy announced that it had completed an offering of senior convertible notes and used net proceeds of about $782 million to buy more Bitcoins.
MicroStrategy is essentially a proxy for direct BTC investment without a spot Bitcoin exchange-traded fund (ETF) in the United States. It holds 205000 BTC so far, the most by a publicly traded company as a part of its treasury strategy.
MicroStrategy's stock was up roughly 135% year-to-date. It mirrored Bitcoin's 70% YTD gains, maintaining a strong positive correlation with the top cryptocurrency.
Here are the top 12 companies with largest Bitcoin holdings below: #BTC $BTC
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