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The Reserve Bank of India (RBI) is actively speaking with banks and the government to implement more robust measures to prevent the misuse of banking channels for illegal forex trading. This move comes in response to recent arrests related to illegal activities and aims to address the rising concern of unauthorised forex transactions, according to a report by The Economic Times (ET).
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Crypto Tax In India: Flat Rate of 30% Tax on Virtual Digital Assets (VDAs): Gains from the transfer of cryptocurrencies or any VDA are taxed at a flat rate of 30%, no matter for how long it has been held. This makes tax computation straightforward but eliminates the benefits of lower taxes for long-term holding.
Income Tax for Freelancers: As per Income Tax Laws in India, any income generated by an individual by implementing their manual or intellectual skills is considered as ‘’profit and gains from business and profession’’. As per the tax perspective, freelancing is treated as a business and profession.
Various consultants and professions like blog consultancy, software developers, content writers, web designers, tutors, fashion designers, etc. do qualify as freelancers. The Income tax filing for freelancers could be slightly complicated due to incomes coming from multiple sources.
Time Stamps
0:00-1:07 Introduction
1:08- 4:20 Forex trading legal or illegal, how to do forex trading in india, fema act, Questions
4:22-5:00 Forex Transaction course New updates
5:00-15:10 Forex Trading Taxes
15:10-17:13 Our suggestions
DISCLAIMER
I am not financial advisor. I invest money along withstudies. The content on our YouTube videos are for educational purposes only and our own personalopinions. In order to make the best financial decision. that suits your own needs, you must conduct your own research. All investments involve some form of risk and there is no guarantee that you will be successful in making money. Always remember to make smart decisions and do your own research!!
