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...
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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