India: Finance Bill 2023 including increased penalties for non-compliance with virtual assets tax reporting requirements
Progress
Current status
under deliberation
01 Feb 2023 under deliberation
Scope
Implementers
India
Policy Area
Taxation
Policy Instrument
Direct taxes including Digital Service Taxes
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
legislature
Government Body
parliament
Implementation Level
national
Timeline of events
Introduced Finance Bill 2023 including increased penalties for non-compliance virtual assets tax reporting requirements
On 1 February 2023, the Finance Bill 2023 was introduced in the Lok Sabha, the lower house of India's Parliament. In particular, the Bill outlines increased penalties for non-compliance with taxation requirements for virtual assets. The cryptocurren…
SourceEvent type
law
Action type
introduction
Government branch
legislature
Government body
parliament