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Crypto mining cost not to be allowed as deduction under IT Act

Crypto mining cost not to be allowed as deduction under IT Act : Rashtra News #Crypto #mining #cost #allowed #deduction #Act Infrastructure cost incurred in the mining of cryptocurrencies or any virtual digital assets will not be allowed as deduction under the Income Tax Act, Minister of State for Finance Pankaj Chaudhary said on Monday.

Sandeep jhunjhunwalaRohinton sidhwaPankaj chaudharyLok sabhaNangia andersenImage sourceIncome tax actFinance pankaj chaudharyVirtual digital assetsDeloitte india

Top-up tax rule to dent revenue gains from Pillar 2 regime - Industry News

Top-up tax rule to dent revenue gains from Pillar 2 regime - Industry News
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British virgin islandsIndian mnesRohinton sidhwaYeeshu sehgalCampa colaQualified domestic minimum top up taxEffective tax rateBig fiveArunachal pradeshUndertaxed payments ruleTax market

Govt may focus on stricter compliance to boost corporate income-tax

Government to focus on boosting corporate income-tax collections using data analytics and AI tools to meet challenging 2024-25 target of ₹10.43 lakh crore. | Latest News India

New delhiRohinton sidhwaSameer guptaNaveen wadhwaNational tax leaderServices taxProject insightReserve bankCentral boardDirect taxesDeloitte indiaCorporate income tax

India-Mauritius tax treaty: FPIs withdraw Rs 8,600 crore from equities in April

Apart from equities, FPIs withdrew Rs 10,949 crore from the debt market during the month under review.

United statesKislay upadhyayRohinton sidhwaLokesh shahHimanshu srivastavaIncome tax departmentGeojit financial servicesMorningstar investment research indiaDouble taxation avoidance agreementPrincipal purpose testAssociate director manager researchMorningstar investment researchChief investment strategistForeign portfolio investmentIncome taxIndia mauritius

tax incentives: Govt may review tax sops offered to IFSC

The government may need to reconsider the tax incentives offered to units in the International Financial Services Centre (IFSC) in Gujarat due to the impact of Pillar Two of the Base Erosion Profit Sharing framework, according to a Deloitte report. Pillar Two aims to ensure that large multinational companies pay a minimum effective rate of tax of 15% on profits in all countries. Units in IFSC may not have enough employees and assets to avail of the benefits, so they will need to evaluate the overall tax impact in India after the implementation of Pillar Two rules.

Rohinton sidhwaInternational financial services centreGujarat international financial tech cityPillar two of the base erosion profitPillar twoBase erosion profit sharingGujarat international financial techPillar two globe rulesPillar two globeTax incentivesDeloitte reportGift cityFinancial hubGlobal minimum tax rulesEffective tax rate