[00:04] with today's big news from the crypto market.  Let's see today's top headlines. Bitcoin below $6000, market cautious on fear of high inflation.
[00:17] preparing to launch the first spot Bitcoin ATF. Maharashtra to introduce India's first blockchain land tokenisation law. Bitcoin is currently trading below $6,000. Bitcoin is down about 1.5% in the last 24 hours.  The
[00:33] Brent crude has reached over $ a barrel.  For the first time in the last two months, oil has become fear of high inflation has returned.  Traders are expecting the Fed to raise interest rates and are pricing in a 40% probability of that rate.  The
[00:48] final Tax of Carity Act has been released ahead of the Sir floor vote. Under these provisions, the US President, Vice President, Members of Congress, and their spouses will not be able to sponsor the issue of any distinctive asset while in office,
[01:00] nor will they be ETF. For this, the Financial Services Agency there is going to make changes in investment controls. Which could pave the way for a spot Bitcoin ETF by 2028.
[01:14] Maharashtra is preparing to introduce India 's first blockchain-based land tokenization law, Delta.  The law aims to digitize property ownership and enable fractional ownership and transfer of land.  The Maharashtra
[01:27] government believes that blockchain-based land organization will boost investment and equity.  The investor thinks that all transactions are the same. But according to the tax rules, the treatment of every transaction is different.
[01:40] If we talk about buying, then whenever you buy crypto, there is no tax at that time. You are simply converting your cash into digital assets. But the price you have paid becomes your cost later on.  Therefore, it
[01:56] is very important to maintain records of every purchase.  If we talk about sale transactions, then the we talk about sale transactions, then the Cryptocurrency is taxed at a flat 30% and also attracts a TDS of 1% at the time of sale.
[02:13] You can claim credit for that TDS later. And most importantly, in crypto, the loss of one coin is not adjusted against the profit of another coin and is
[02:25] not carried forward to the next year.  Here every transaction is seen separately. transaction is seen separately. That is why you have to keep complete records for the whole year. Ah to submit to income tax. You also have to provide details of each transaction
[02:39] You also have to provide details of each transaction separately.  If you trade on an exchange like Coin, you can get your complete tax PNL by downloading it. Just like you download from a stock broker.
[02:52] This makes your tax filing and reconciliation much easier. much easier. [music]