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

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

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

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  Netflix’s new limited crime series   Ripley  is now streaming as of April 4. As you’re watching the suspenseful thriller,   learn all about the  Ripley  cast , including who plays Tom Ripley, Marge Sherwood, Dickie Greenleaf, and more. An adaptation of Patricia Highsmith’s novel “The Talented Mr. Ripley,” the eight-episode limited series was written, directed, and executive produced by Steve Zallian, the filmmaker behind  The Irishman  (2019)   and  The Night Of  (2016). The director said that Highsmith’s 1955 book inspired him to utilize black-and-white cinematography throughout the project. “When Patricia wrote it, if she imagined a movie being made from it back then, it would be in black and white,” he said during an early screening of the series in NYC, according to  IndieWire .  “The cover of that book that I had was in black-and-white, so as I was reading it, it was in my mind to be that way.” Zallian con...
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The Only Man The Afghans Were Scared Of, The Valiant Tale Of Sikh Warrior Hari Singh Nalwa

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H ow the vast Afghani Empire on Punjabi soil disappeared in Kasur, Multan, Kashmir and Peshawar is a subject closely associated with the campaigns of Sardar Hari Singh Nalua, the Marshal of the Khalsa and terror for the Afghans. Being the 'Murat of the Khalsa' as he was appropriately called by Sir Henry Griffin, the famous British dignitary and a prominent writer of significant treatise on the Sikhs, his name figures among those patriots who participated bravely rather passionately in almost all battles fought constantly against the Afghans during the Sikh rule under Maharaja Ranjit Singh for a period of three decades from A.D. 1807 to A.D. 1837. S ardar Hari Singh Nalua, the typical product of his age was born at Gujranwala now in the West Pakistan in A.D. 1791 in Uppal family in the house of Sardar Gurdial Singh to Dharam Kaur. He was the only son of his parents. The ancestors of Nalua sardars were originally from Majitha town situated in the vicinity of Amritsar. His ...
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Biography of Sardar Bhagat Singh - The Real Hero

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Bhagat Singh was born in Punjab, India (now Pakistan), on September 27, 1907, to a Sikh family deeply involved in political activities. He quit school at thirteen to devote his life to Indian independence. He became involved in several violent demonstrations of political defiance and was arrested several times. Singh was found guilty of killing a British police officer and hanged on March 23, 1931. Early Years Born on September 27, 1907, to a Sikh family in Punjab, India (now Pakistan), Bhagat Singh was the second son of Kishan Singh and Vidya Vati. The family was steeped in nationalism and involved in movements for independence. At the time of Bhagat's birth, his father was in jail for political agitation. By the time Bhagat Singh was 13, he was well familiar with this family’s revolutionary activities. His father was a supporter of  Mahatma Gandhi , and after Gandhi called for boycotting government-aided institutions, Singh left scho...
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