news4global
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    ये Coins कर सकते बर्बाद ‼️  Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    ये Coins कर सकते बर्बाद ‼️ Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Top 3 Crypto Binance Upcoming Listing | top cryptocurrency to invest in 2023 | Crypto news today |

    Top 3 Crypto Binance Upcoming Listing | top cryptocurrency to invest in 2023 | Crypto news today |

    ELON MUSK’S HUGE WARNING! 🚨 CRYPTO NEWS TODAY 🔥 CRYPTOCURRENCY NEWS LATEST! 🔥 BITCOIN NEWS TODAY

    ELON MUSK’S HUGE WARNING! 🚨 CRYPTO NEWS TODAY 🔥 CRYPTOCURRENCY NEWS LATEST! 🔥 BITCOIN NEWS TODAY

    IIF CEO Adams on Banking Risks, Cryptocurrency Regulation

    IIF CEO Adams on Banking Risks, Cryptocurrency Regulation

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    ये Coins कर सकते बर्बाद ‼️  Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    ये Coins कर सकते बर्बाद ‼️ Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Top 3 Crypto Binance Upcoming Listing | top cryptocurrency to invest in 2023 | Crypto news today |

    Top 3 Crypto Binance Upcoming Listing | top cryptocurrency to invest in 2023 | Crypto news today |

    ELON MUSK’S HUGE WARNING! 🚨 CRYPTO NEWS TODAY 🔥 CRYPTOCURRENCY NEWS LATEST! 🔥 BITCOIN NEWS TODAY

    ELON MUSK’S HUGE WARNING! 🚨 CRYPTO NEWS TODAY 🔥 CRYPTOCURRENCY NEWS LATEST! 🔥 BITCOIN NEWS TODAY

    IIF CEO Adams on Banking Risks, Cryptocurrency Regulation

    IIF CEO Adams on Banking Risks, Cryptocurrency Regulation

No Result
View All Result
news4global
No Result
View All Result
Home Blockchain

Have Tax Rules Dented Popularity Of Cryptocurrencies? Read Here

April 22, 2022
Reading Time: 3 mins read
0
Have Tax Rules Dented Popularity Of Cryptocurrencies? Read Here
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

HSBC is now ready to venture into the crypto market

HSBC is now ready to venture into the crypto market

February 1, 2023
BlackRock,Goldman Sachs to widely expand crypto

BlackRock,Goldman Sachs to widely expand crypto

January 31, 2023

As per the Google Trends data, if you search for ‘cryptocurrency‘ you will see a drastic drop in the popularity of this term in the blockchain industry in the country.

The Google Trends data shows that the terms ‘cryptocurrency’ and ‘crypto’ were at an all-time high in 90 days on February 1, which was also the Budget 2022 day, where the reading of the term stood at a popularity of 100. But that was the last glory the term saw as interests soon dandled vigorously until they bottomed out to zero.

The term ‘cryptocurrency’ on Google Trends dipped steeply from 100 reading on February 1 to 53 on the very next day (February 2). Furthermore, from February 3 to April 19, the reading has slipped from 40 to as low as 10.

Last week on April 16, the reading reached 10. This week, the reading was 14 on April 18, 13 on April 19, and 0 on April 20.

According to Google, a value of 100 is the peak popularity of a term, while the value of 50 would result in half as popular, and a score of 0 means there are not enough data at this point for the term.

Google Trends provides access to a largely unfiltered sample of actual search requests made to Google. It’s anonymized (no one is personally identified), categorized (determining the topic for a search query), and aggregated (grouped).

“This allows us to display interest in a particular topic from around the globe or down to city-level geography,” Google said in its FAQs.

Also, Google Trends data reflects searches people make on Google every day, but it can also reflect irregular search activity, such as automated searches or queries that may be associated with attempts to spam our search results.

In the past 90 days, the data shows that the ‘cryptocurrency’ term searches were highest in Sikkim followed by Andaman and Nicobar Islands, Chandigarh, Delhi, and Daman & Diu.

Among the related topics, the most searched for cryptocurrency term were – Union Budget of India (+2,450%), Waves – Cryptocurrency (+1,400%), Tax (+1,300%), Digital Currency (+90%), and OpenSea (+90) in the past 90 days in India.

While among the related queries in the past 90 days, under the term cryptocurrency, were – ’30 tax on crypto’ (breakout), ‘trust no one the hunt for the crypto king’ (breakout), ‘budget 2022’ (+2,750%), ‘lucky block price’ (+2,150%), and ‘russia crypto news’ (+2,100%).

As per Google, the term “Breakout” instead of a percentage, means that the search term grew by more than 5000%.

Furthermore, the term ‘crypto’ which stood at a record reading of 100 on February 1 dropped to 48 on the very next day and further slid from 34 to 17 on April 19. The reading reached to score of zero on April 20.

The term ‘crypto’ was searched more in Daman & Diu, Chandigarh, Sikkim, Goa, and Haryana in the past 90 days. While the ‘union budget of india’ was on a breakout in the related topics section, and ’30 tax on crypto’ was also on ‘breakout’ in related queries.

Last month, Lok Sabha approved taxation rules on virtual digital assets (VDAs) or “crypto tax” that was proposed in Budget 2022-23 by clearing the Finance Bill 2022. These new tax rules have become effective from April 01, 2022.

Under the bill, section 115BBH deals with taxes on virtual digital assets, while clause (2)(b) prohibits setting off a loss from crypto assets against income under “any other provision” of the IT Act. Also, the word “other” is dropped for VDAs under the bill.

With that, a 30% capital gains tax is imposed on crypto transactions. Further, a loss incurred during the transfer of the virtual asset will no longer be allowed to set off against any income calculated under the “other” provision of the IT Act as the word “other” has been removed.

That means, no matter what your income level is from crypto assets, they will be liable for the 30% tax rate from April 01, 2022.

Additionally, the amendment under the bill also directs a 1% tax deducted at source (TDS) on Indians buying or selling cryptos along with taxes on crypto gifts. However, the TDS will come into effect starting July.

On Thursday, as per CoinMarketCap, the global crypto market cap is $1.88 trillion, a 3.59% decrease over the last day. The total crypto market volume over the last 24 hours is $106.33 billion, which makes a 10.01% increase.

Currently, the total volume in DeFi is at $13.28 billion, 12.49% of the total crypto market 24-hour volume. The volume of all stable coins is now $89.98 billion, which is 84.62% of the total crypto market’s 24-hour volume.

Moreover, the Bitcoin price is near $40,560. Bitcoin’s dominance is currently 41.02%, a decrease of 0.27% over the day.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Tags: 30% tax crypto assetbitcoin price todaycrypto tax rulesCryptocurrencycryptocurrency prices todayGoogleGoogle TrendGoogle Trends cryptoGoogle Trends cryptocurrencyIndia crypto tax rulesTDS crypto
Share76Tweet47

Related Posts

HSBC is now ready to venture into the crypto market

HSBC is now ready to venture into the crypto market

by admin
February 1, 2023
0

HSBC posted crypto-related job openings on its career page today. Peers have already launched crypto products in recent years. Shares...

BlackRock,Goldman Sachs to widely expand crypto

BlackRock,Goldman Sachs to widely expand crypto

by admin
January 31, 2023
0

BlackRock continues in-house projects in the crypto industry via blockchain technology. Goldman Sachs offers its customers tokenization options. The crypto...

Bitcoin falls in crypto pull back ahead of Fed meet on interest rates

Bitcoin falls in crypto pull back ahead of Fed meet on interest rates

by admin
January 31, 2023
0

Bitcoin fell along with Ether and all other top 10 non-stablecoin cryptocurrencies in Tuesday morning trading in Asia, wiping out...

Pi Chain Mall Sets to Open Withdrawals for Real Pi

Pi Chain Mall Sets to Open Withdrawals for Real Pi

by admin
January 30, 2023
0

Learn about the great support BNB Chain has given Mr. Lightspeed and why that has been crucial to building on...

Crypto Mining Russia Ban Residential Areas Electricity Duma Mining Fires

Crypto Mining Russia Ban Residential Areas Electricity Duma Mining Fires

by admin
January 30, 2023
0

Advisers to the Russian government have recommended a ban on crypto mining in residential areas of the country. The main...

Load More
  • Trending
  • Comments
  • Latest

Bitcoin Is ‘Definitely Not a Fraud,’ CEO of Mobile-Only Bank Revolut Says

March 2, 2022

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

March 3, 2022
How online shopping has changed over the last 30 years | National

How online shopping has changed over the last 30 years | National

April 6, 2022
Protocon Announces ‘Contract Model’, an Alternative

Protocon Announces ‘Contract Model’, an Alternative

April 6, 2022

US Commodities Regulator Beefs Up Bitcoin Futures Review

0

Bitcoin Hits 2018 Low as Concerns Mount on Regulation, Viability

0

India: Bitcoin Prices Drop As Media Misinterprets Gov’s Regulation Speech

0

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

0
HSBC is now ready to venture into the crypto market

HSBC is now ready to venture into the crypto market

February 1, 2023
The good news about the Dow’s drop- POLITICO

K Street’s crypto gold rush continues

February 1, 2023
Crypto lender Celsius propped up its token, benefiting insiders -U.S. bankruptcy examiner

Crypto lender Celsius propped up its token, benefiting insiders -U.S. bankruptcy examiner

January 31, 2023
Treasury reveals ‘world-first’ proposals to regulate cryptocurrency | Science & Tech News

Treasury reveals ‘world-first’ proposals to regulate cryptocurrency | Science & Tech News

January 31, 2023

Latest News

HSBC is now ready to venture into the crypto market

HSBC is now ready to venture into the crypto market

February 1, 2023
The good news about the Dow’s drop- POLITICO

K Street’s crypto gold rush continues

February 1, 2023

Categories

Site Navigation

  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services
  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services

© 2022 Designed by news4global

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • Videos

© 2022 Designed by news4global