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Lok Sabha Passes Finance Bill, Officials Can Track Digital Assets, Crypto, and Encrypted Chats for Tax

The new tax system aims to be simpler for both parties- the government as well as the taxpayers. The Lok Sabha recently passed a new finance bill with 35 amendments that states that, private information of citizens can now be accessed by the authorities in order to enforce compliance on behalf of taxpayers. This initiative will be confirmed in the monsoon session.

Economy

" Authorities can now track encrypted information to extract tax dues. "

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