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2023 (119)

Cryptocurrency Tax Advisor | CA in Mumbai | USDT Arbitrage | P2P Trading TDS | Recover Money from Crypto Scams

SCAM Alert - Fake Income Tax Notices

DISCLAIMER  The contents of this article are for information purposes only and do not constitute an advice or a legal opinion and are personal views of the author. It is based upon relevant law and/or facts available at that point of time and prepared with due accuracy & reliability. Readers are requested to check and refer relevant provisions of statute, latest judicial pronouncements, circulars, clarifications etc before acting on the basis of the above write up.  The possibility of other views on the subject matter cannot be ruled out. By the use of the said information, you agree that we are not responsible or liable in any manner for the authenticity, accuracy, completeness, errors or any kind of omissions in this piece of information for any action taken thereof. CA Mitesh and Associates is India's leading Cryptocurrency Taxation Firm which is committed to helping people navigate complex tax laws and banking regulations. Our main aim is to assist the individuals with applicable laws & regulations compliance and providing support at each & every level to make sure that they stay compliant and grow continuously. For any query, help or feedback you may get in touch here - Appointment with CA. Please note the all consultations with the CA are Paid consultations. Financial Year 2023.

The prevalence of online bank scams is not a recent phenomenon and has been in existence for quite some time. These scams involve scammers deceiving individuals through fraudulent messages pertaining to KYC verification, credit card updates, or bank account modifications. Their primary focus is on…

Taxability of Crypto received from referral program

Taxability of Crypto | Crypto Tax Services India | Crypto Consulting | Income Tax Filing Services

Referral programs are a proven marketing tactic for various companies and industries including crypto companies, projects and coins. In this article, we shall discuss the taxability of crypto received from such referral programs. Earning crypto from referral programs is a process that involves promoting a…

Ponzi Crypto Apps cheating people in India 2023

International Taxation Crypto | Recover Money Crypto Scam | CA Mumbai | WhatsApp | Telegram | Scam

Recent news and analysis indicate that many Ponzi crypto apps are targeting and defrauding people in India. Many of these Ponzi cryptocurrency apps lure Indian customers and scam them by promising them high returns in short period of time.

First of all, What is 'Ponzi scheme' ?

Ponzi schemes are investment plans in which the owner or operating firm pays investors' returns from new cash raised from new investors rather than from the company's revenues. 

Crypto Ponzi schemes are crypto investment frauds that pay existing investors with funds collected from new investors. Crypto is a prime target for the masterminds of Ponzi schemes. Average investors do not fully understand the technology that crypto uses or how to evaluate a cryptocurrency as a sound investment. Unlike traditional investments where investors can dig into earnings, analyst research reports, audited documents and other required regulatory material, many crypto projects are unregulated and having anonymous founders is not unusual in the space.