India Mining Tax Update

The Indian government has passed the Mines and Minerals (Development and Regulation) Amendment Bill, which restricts state governments from imposing new taxes on mineral rights and land. This move aims to prevent market fragmentation and streamline the national market. However, some states like Odisha may lose significant revenue, with estimated losses of over ₹1 trillion. Meanwhile, the Central Board of Direct Taxes (CBDT) has released a guidance note on crypto-asset reporting obligations under the Income Tax Act 2025. The note provides clarity on the reporting requirements for taxpayers dealing with crypto-assets. For more information, visit the original sources: https://www.business-standard.com/industry/news/mmdr-amendment-sparks-revenue-fears-odisha-may-lose-over-1-trn-dues-126081401862_1.html and https://www.caclubindia.com/news/cbdt-releases-guidance-note-on-crypto-asset-reporting-obligations-under-income-tax-act-2025-26718.asp