- HC stays Haryana’s 75% reservation for locals in private jobs
- Max amount Central Government Employees can get is Rs 20 lakh
- Minimum Wages For States Across India
- Manufacturing activity with 10 or more workers with power is essential to be a factory. (SC)
- Production bonus, medical & washing allowances etc. are wages for ESI contributions. (Madras HC)
- Independent tea seller in the premises of establishment not to be treated as employee for coverage under ESI.(Madras HC)
- Purchasers of an establishment cannot be liable for payment of arrears by the original owner. (Karnataka, HC)
- An enquiry will not be proper if subsistence allowance is not paid, and the enquiry Officer was not examined before Court. (Delhi HC)
- Economics Is On The Side Of Climate Action
- Flexible workplaces will become the new reality
- Top 5 Human Resources Trends to Watch in 2022
- Forbes Announces The Final Installment Of 250 Entrepreneurs Featured On Its 2021 Next 1000 List
- Why don’t your performance appraisals work?
India Legalizes Crypto?
In budget 2022, not just announced its own digital currency but also announced plans to begin taxing income from digital/ crypto assets. The 30% tax cut was received with mixed reactions by the crypto traders and investors.While it worried some, others were overjoyed seeing it as a move removing uncertainties about the legal status of such transactions.
However, the Finance Secretary has cleared all air as he said, “India will not be making any crypto asset as a legal tender. Only ‘Digital Rupee’ of the Reserve Bank will be a legal tender in India.”
How can the government tax it if it isn’t legal? Have the same question? Read along!
The Decision
The FM announced the following in the Budget 2022.
- 30% tax on income from crypto assets
- Losses can not be set off against crypto assets only
- Losses cannot be carried forward
- 1% TDS on all crypto transactions above a threshold
- Gift taxes will be the liability of the recipient
- RBI-backed ‘digital rupee’ to be launched
Why the tax?
India is one of the fastest growing cryptocurrency trading markets in the world. The lack of control over it and the limit of the convertibility of the Indian rupee, has made the government take the step of levying such high taxes on it. The move aims at discouraging citizens from investing/trading in crypto.
How will the “Digital Rupee” help?
The “Digital Rupee” will help India adapt to new technologies and make financial transactions more efficient and easy to track. It is also an attempt to start building the ecosystem and frame rules and regulations around the crypto assets.
How will the “Digital Rupee” help?
The “Digital Rupee” will help India adapt to new technologies and make financial transactions more efficient and easy to track. It is also an attempt to start building the ecosystem and frame rules and regulations around the crypto assets.
Where does India stand today?
The “Digital Rupee” will be launched in the next FY. Though the government has announced a tax, the legislations around the crypto assets and cryptocurrencies are yet to take shape. The tax rule still requires more clarity on many issues, such as,
- How will companies and project building in the crypto space treat their salary and token sales?
- Will such startups and exchanges get access to the Indian Banking System?
- Since the trades and exchange of crypto assets are decentralised and anonymous, how would they be reported to the tax authorities
- Will the citizens have to declare the crypto assets (NFTS/Digital Tokes) they buy online?
Data Digest
7.3% of Indians are in the crypto world, this is higher than the stock market itself. Only 4.3% of Indians invest in the stock markets. While the public has started investing in and accepted the crypto assets now, big brands started accepting them really early on. Here’s a glimpse of the data on such approvals.
HR & Business Essentials
1000+ Editable Documents for HRs
HR Documents are vital to record all the transactions, activities, and events related to the organization. You need to have all the Important HR Documents to make sure that your business administration is smooth and the Internal Control System is strong.
Let’s face it, though important, the documentation process is not the most amazing experience of the job.
To overcome this monotonous problem, we have created a HR & Business Essentials Kit which includes HR Documents that has 1000+ important forms, templates and documents which will make HR / Business owners work a lot easier. All forms and templates are ready to edit, just download the template and edit according to your needs.
Key Features
- 200+ Ready to edit HR Forms
- 50+ HR editable letters
- 60+Editable Employee Policies
- Recruitment related templates
- Employee Performance Management Templates
- Employee Compensation Templates
- Appraisal Certificates
- Intern Related Templates
- 15+ ready to edit NOC’s (No Objection Certificates)
- Experience or Relieving Letters
- Editable Warning Notice
- Employee Settlement Templates
- Resignation Related Templates
- Employee Onboarding Templates
- And many more ready to use templates
Click here to get your HR & Business Essentials Kit today!