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According to The Defiant, under the Income Tax Act 2025, India's income tax department will be given the authority to monitor individuals' digital activities, including social media accounts, emails, and online financial transactions, from April 1, 2026. The new powers are designed to enhance the department's ability to detect tax evasion and undisclosed assets, including cryptocurrency holdings.
Binance has questioned the nearly $86 million tax penalty notice issued by the Indian Revenue Department. According to a person directly involved in the matter, the Directorate General of Indirect Tax Intelligence (DGGI) of India sent Binance the notice of request for clarification last week. The notice concerns the fees Binance collected from Indian customers from July 2017 to March 2024. It is reported that DGGI is affiliated with the Indian Ministry of Finance. Binance has not yet responded t...
On August 6, according to CoinDesk, Binance has questioned the nearly $8.60 billion tax penalty notice issued by the Indian tax authority. A person directly involved in the matter said that India's Directorate General of Indirect Tax Intelligence (DGGI) last week sent Binance a notice of the request for clarification. The notice concerns Binance's fees charged from Indian clients between July 2017 and March 2024. It is reported that DGGI is an agency responsible for collecting, collating and dis...
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