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.
Top-up tax rule to dent revenue gains from "Pillar 2" regime - Industry News financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
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
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.