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virtual currencies exchange

Cryptocurrencies – How virtual currencies operates?

Cryptocurrency network has been considered robust, the reason why it has garnered support so far. To understand the same, let’s understand how cryptocurrencies operate. Blockchains Cryptocurrencies work on blockchains – imagine a virtual chain of blocks placed one after the other, where the blocks represent the transactions. Blockchains maintain a…
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journey

Bitcoin – The journey so far

What you need to know about the journey so far? In 2008, when the world met eyes with reality, as the global financial crisis emerged, an anonymous person ‘Satoshi Nakamoto’ was developing a new ‘peer to peer network’ to create a system for electronic transactions without any third party involved…
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Amount paid for use of software

Amount paid for use of software is not ‘Royalty’.

“During the assessment year 1997-98 and 1998-99, several payments were made to foreign parties for the license to use the software. However, no tax has been deducted at source and thus, following section 40(a) these expenses must be disallowed. Therefore, I have reason to believe that income has escaped assessment…
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