Persons of Indian Origin
PIO for this purpose is defined in Regulation 2 of FEMA Notification ibid as a citizen of any country other than Bangladesh or Pakistan, if
(a) he at any time held Indian passport; or
(b) he or either of his parents or any of his grandparents was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955); or
(c) the person is a spouse of an Indian citizen or a person referred to in sub-clause (a) or (b).
By
Siddharth Dalmia, B.Tech.(DAIICT)
Legality of CryptoCurrency Exchanges in India
Legality of CrytoCurrency Exchanges in India There is no statutory prohibition on the operation of exchanges in India. Neither has the position regarding the legality of bitcoins and other cryptocurrencies specifically addressed. In IMAI vs RBI[1], the Court looked at...
Indirect Tax Implication on Cryptocurrency Exchanges in India
Indirect Tax Implications on Crypto Exchanges in India The applicable laws with respect to GST are the Central Goods and Services Tax Act, 2017, the Integrated Goods and Services Tax Act, 2017 and the respective State Goods and Services Tax Acts, with each having...
Direct Tax Implications on Crypto Exchanges in India
Direct Tax Implications on Crypto Exchanges in India The income of the corporations and individuals is taxed under the Income Tax Act, 1961 (the ‘ITA’). The ITA has the provisions to tax the Indian residents on their worldwide income and non- residents on their income...
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