As NFT prices drop, taxman could come knocking - Economic Times

The tax department is sure to question the sharp drop in the valuation of these virtual digital assets, tax experts said. The department would scrutinise NFT transactions on suspicion that some of the money may have been accepted in cash to reduce the tax out…
Mumbai: A recent drop in the prices of high-value non-fungible tokens (NFTs), coupled with ambiguity in the recently established tax framework, will lead to tax scrutiny for Indian investors in the c… [+2499 chars] Read More