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Is Indian Govt. Planning to Tax Crypto? Indian Companies Asked to Disclose Crypto Investments

Indian companies from now on might require to disclose their crypto holdings in their Standard SCH III balance Sheet reporting with the Ministry of Corporate Affairs under the company’s act 2013. The said piece of regulation would impact almost every company that has registered through the company’s Act and is believed to have got the input from the income tax department as well.

Standard Sch III Balance Sheet reporting with Ministry of Corporate Affairs in #India may now require #cryptocurrencies disclosure! #Crypto #Blockchain pic.twitter.com/3m2q31vwnL
— Varun | Blockchain Lawyer (@Blockchainlaw91) March 25, 2021

Looking at the Ministry of Corporate Affairs recent notifications and amendments to the Schedule III of the Company’s Act suggest that the Indian government might be planning to impose a capital gain tax on crypto holders especially corporate companies

The Coingape Media sources confirmed that the said amendments are official and might come into effect from today.
 
The post Is Indian Govt. Planning to Tax Crypto? Indian Companies Asked to Disclose Crypto Investments appeared first on Coingape.
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