Crypto traders hit with hefty tax penalty as IT Dept cracks down on P2P transactions

Image
Over the past few weeks, many crypto investors received income tax notices for non-payment of taxes on peer-to-peer (P2P) trades through foreign exchanges. A Binance spokesperson told Moneycontrol that the exchange has been closely monitoring and reporting suspicious trades to FIU-Ind. Rakesh (name changed) had sold crypto tokens worth Rs 98,500 through peer-to-peer (P2P) transactions for about Rs 100,000 back in 2022, making a meagre profit of Rs 1,500 on this sale. He received the entire amount in his bank account and the transaction happened through a centralised exchange. A few weeks ago, he received a notice from the income tax department flagging his Rs 100,000 deposit. On producing screen shots of the P2P trade and the statement generated by the exchange as a proof, the official asked him to pay 78% or Rs 78,000 in fine on a Rs 1,500 profit. He is one of the 50 plus customers of crypto tax platform Koinx who got such IT notices over the past few weeks. Koinx founder Punit Agarwa...

8 Easy Ways to Make $100 a Day

Are you looking for ways to earn extra income without leaving your day job? Making an extra $100 a day may seem like a daunting task, but with some creativity, persistence, and dedication, it can be achieved. Here are eight easy ways to make $100 a day.

1: Start a Blog

Starting a blog can be a great way to earn extra income. You can monetize your blog by displaying ads, writing sponsored content, and offering affiliate products. To start a blog, choose a niche you are passionate about and create engaging content. Promote your blog on social media platforms to attract visitors and build your audience.

2 : Freelance Writing

Freelance writing can be a great way to earn money online. You can write articles, blog posts, and other content for businesses and individuals. Freelance writing requires good writing skills and the ability to meet deadlines. You can find freelance writing gigs on job boards, social media platforms, and freelance marketplaces.

3 : Online Surveys

Online surveys can be an easy way to earn some extra cash. Companies are always looking for feedback on their products and services, and they are willing to pay for it. You can find online survey sites that pay cash or rewards for completing surveys.

4 : Sell Products Online

You can sell products online to earn extra income. You can sell products on Amazon, eBay, Etsy, or your own website. You can sell physical or digital products, such as eBooks, courses, or software. To sell products online, choose a profitable niche, source or create products, and promote them on social media platforms and search engines.

5 : Drive for Uber or Lyft

If you have a car and some free time, you can become a driver for Uber or Lyft. You can work flexible hours and earn money by providing transportation services. To become a driver, you need to meet certain requirements, such as having a valid driver's license and insurance.

6 : Rent out Your Home or Space

If you have an extra room, an apartment, or a house, you can rent it out on Airbnb or other vacation rental platforms. You can earn money by hosting guests and providing them with a comfortable and unique experience. To rent out your home or space, create a listing, set your price, and communicate with potential guests.

7 : Sell Photos Online

If you are good at taking photos, you can sell them online to earn extra income. You can sell photos on stock photography sites, such as Shutterstock, iStock, and Getty Images. To sell photos online, you need to create high-quality and unique photos that meet the requirements of the stock photography sites.

8 : Virtual Assistance

Virtual assistance can be a great way to earn extra income by providing administrative, creative, or technical assistance to businesses and individuals. You can offer services such as social media management, email management, content creation, and graphic design. To become a virtual assistant, you need to have the necessary skills and tools, such as a computer, internet connection, and software.

In conclusion, making an extra $100 a day is possible with some effort and creativity. You can start a blog, do freelance writing, complete online surveys, sell products online, drive for Uber or Lyft, rent out your home or space, sell photos online, or become a virtual assistant. Choose a method that suits your skills and interests, and start earning extra income today

Comments

Popular posts from this blog

Who Is In The ‘Ripley’ Cast? Meet The Stars Of The Netflix Thriller

The Only Man The Afghans Were Scared Of, The Valiant Tale Of Sikh Warrior Hari Singh Nalwa

Biography of Sardar Bhagat Singh - The Real Hero