Unauthorised investment advisory case: Sebi bans Equity Mania, proprietor from mkt for taxe free crypto exchange yrs However, there is no data maintained by the government on crypto earnings as there is no provision in the IT return to capture data on such earnings, the minister added. Thakur said that since there is no specific SAC for cryptocurrencies, the GST collections specific to cryptocurrencies are not available with the government.
The Corporate Affairs Ministry has now made it mandatory for companies dealing with virtual currencies to disclose profit or loss incurred on crypto transactions, the amount of cryptos they hold, and deposits or advances from any person for the purpose of trading or investing in cryptocurrency in their balance sheets.
In a notification issued on Wednesday, the ministry announced the amendments made in schedule III of the Companies Act with effect from April 1, In a written reply to a question in the Rajya Sabha on Tuesday, Thakur had said that the government will be taking a decision on the recommendations made by the Inter-Ministerial Committee IMC on cryptocurrencies in India.
Accordingly, a legislative proposal, if any, would be brought before the Parliament. Like us on Facebook and follow us on Twitter. Financial Express is now on Telegram.
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