A number of clients have started receiving an email from centralized exchanges like CoinDCX, WazirX, etc asking for Originator Info. It says something like the following: Subject: Provide Originator Info for Recent Deposit - X,XXX.XX USDT Body: Hi Customer, We noticed a crypto deposit in…
The Income Tax Department, leveraging advanced database systems, now captures various financial transactions of taxpayers, including Non-residents (NRIs, OCIs). Despite assumptions that foreign source funds aren't taxable, the absence of Indian Income tax filings prompts the department to verify potential tax evasion and the sources…
We are very happy that we were able to get a favourable order against Income Tax Notice which was served on our client. The case involved huge assessment order passed by the income tax department against the client for trading in cryptocurrency namely Bitcoins in…