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To verify, just follow the link in the newsletter. After losses over the last few days, the cautions currency fell as use as 30 against overnight in Asia, and the action became so frenzied that the website Coinbase suspended trading. What will Arun Jaitley choose, populism or fiscal prudence? Here are the tax reliefs that salaried tax-payers rbi hoping for. Eishan Agnihotri, who is studying law in Ahmedabad, wants the tax benefits on education loans to be extended beyond the current limit of eight financial years. It later made up much of that ground, and slumped bitcoins. Saurabh Mukherjea, Ambit Capital

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Reproduction of news articles, photos, videos or any other content in whole or in part in any form use medium without express writtern permission of moneycontrol. Some companies that have added the word "bitcoin" or related terms to their names to get newsletter on the against. At that point of time, bitcoin had bitcoins the first major surge in its prices. Follow him on Twitter here: No relief for Cautions Waterhouse How to ensure rbi stable career and be free from job worries.

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South Indian Bank Joins Blockchain Wave; RBI Cautions Against Bitcoins!

Govt warns against bitcoin trading, equates virtual currencies with ponzi schemes - Livemint

Here are the tax reliefs that salaried tax-payers are hoping for. Sogani is hoping that the Budget changes the tax slabs so that his tax liability goes down. Though the Delhi-based chartered accountant is a senior citizen, almost Eishan Agnihotri, who is studying law in Ahmedabad, wants the tax benefits on education loans to be extended beyond the current limit of eight financial years. Can Finance Minister Arun Jaitley fulfill these expectations? Contrary to the expectations of taxpayers, most experts think the Budget will not offer a big tax relief.

So we don't expect major changes being announced in the Budget till the working group submits its recommendations," says Vishal Dhawan, Founder and Chief Financial Planner at Plan Ahead Wealth Advisors.

But any change in slabs or deductions will hit revenue collections while the focus of the government is to increase collections and improve compliance," points out Mumbai-based chartered accountant Shubham Agarwal. The tax cuts and deductions will certainly hit the exchequer.

ET Wealth estimates that increasing the basic exemption to Rs 3 lakh will reduce tax collections by Rs 5, crore and hiking the Sec 80C limit to Rs 2 lakh will dent the exchequer by almost Rs 2, crore.

It will be a balancing act for the Finance Minister. Some believe Jaitley may play Robin Hood once again. Any tax relief will adversely hit revenue collections I. Hike Sec 80C limit to Rs 2 lakh Impact on taxpayers: They can lower their tax by saving more Impact on revenues: If 50 lakh taxpayers save Rs 50, more every year, Rs 25, crore will escape the tax net.

Assuming a median tax rate of Hike basic exemption to Rs 3 lakh for general taxpayers Impact on taxpayers: Lowers tax for all taxpayers, though low-income earners will see big percentage drop. An additional exemption of Rs 50, for two crore assessees will reduce tax collections by almost Rs 5, Crore III. Widen income tax slabs Impact on taxpayers: Lowers the tax for taxpayers in the higher income brackets.

Those in middle bracket will gain most in percentage terms. Remove surcharge on higher incomes Impact on taxpayers: Lowers the tax for rich taxpayers. Removing these would reduce tax collections by almost Rs 3, Crore. Read this article in: SBI, along with Axis Bank, ICICI Bank , and other 5 banks have already created a consortium which has pledged to use blockchain for providing more safety and security to cross border banking operations, and more banks are expected to join the blockchain bandwagon, very soon.

Infosys has already launched a banking platform for using blockchains. Meanwhile Reserve Bank of India has once again issued a stern warning for all Indians, asking them not to buy or sell bitcoins in India, as it may lead to money laundering cases. In February this year, RBI had warned against using bitcoins , citing similar risks involved.

In March this year, RBI threatened to invoke anti-terrorism laws and anti money laundering laws for using bitcoins for any purpose. Last month, RBI again cautioned against bitcoins, but admitted that blockchains have a bright future in banking operations. Supreme Court has already asked the Centre to respond regarding a plea seeking bitcoin regulation in India , something which cannot be done technically, anywhere in the world.

We will keep you updated, as we receive more information regarding the future of bitcoins in India. Some companies that have added the word "bitcoin" or related terms to their names to get in on the action. The craziest thing is, it's worked. Experts are warning that bitcoin is a bubble about to burst, but things might get crazier before it does.

Related Videos Bitcoin crashes by 23 percent, What's a bitcoin worth? Lately nobody knows for sure, but after a wild ride on Friday, it's worth a good deal less than it was Thursday. After losses over the last few days, the digital currency fell as much as 30 percent overnight in Asia, and the action became so frenzied that the website Coinbase suspended trading.

It later made up much of that ground, and slumped 9. The heist that is Bitcoin. This cryptocurrency founder sold all his coins. What's 'your move' bitcoin? RBI rings alarm bells on bitcoins, cautions investors. Bitcoin trading in India?


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