Q.3 What are the challenges in taxing cryptocurrency transactions? Suggest the way forward. (10 Marks)

Mentor’s comment- https://www.thehindu.com/opinion/op-ed/taxing-cryptocurrency-transactions/article38279469.ece In the intro, mention that the Income Tax Act, 1961 (“IT Act”) does not specifically mention cryptocurrencies, it does cast a wide enough net to bring crypto transactions under its ambit.   . In the body, mention challenges such as scope for varied interpretation and uncertainty in the absence of explicit tax … Continue reading Q.3 What are the challenges in taxing cryptocurrency transactions? Suggest the way forward. (10 Marks)