Union Budget 2022 | Virtual digital assets to attract 30% tax
The Hindu
Union Finance Minister Nirmala Sitharaman on February 1, during her Budget speech declared that income from any virtual or digital assets will be taxed at 30%, at the receiver's end.She made it cl
Union Finance Minister Nirmala Sitharaman on February 1, during her Budget speech declared that income from any virtual or digital assets will be taxed at 30%, at the receiver's end.
She made it clear that there will be no deductions or exemptions and any loss incurred from transfer of digital assets cannot be set off against income.
Further, there will be a 1% TDS (tax deductible at source) on such transactions.
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