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Union Budget 2022: FM Nirmala Sitharaman on Tuesday announced that all income from transfer of virtual digital assets will be taxed at 30 per cent.

Budget 2022: India to tax income from virtual and digital assets at 30%

There has been a phenomenal increase&nbsp;in virtual digital assets. The magnitude&nbsp;of frequency of these transactions made it&nbsp;imperative for a specific regime. Accordingly, for the taxtaion of the virtual digital assets, I propose to provide that any income from any transfer of any&nbsp;virtual digital asset shall be taxed at the rate of 30%.&nbsp;
No deduction in any respect&nbsp;of any exp

Nirmala&nbsp;Sitharaman said that there has been a tremendous increase in the use of virtual digital assets and it requires a specific tax regime.

Union Budget 2022: Finance Minister Nirmala Sitharaman on Tuesday announced that all income from transfer of virtual digital assets will be taxed at 30 per cent.
During her <a href="https://www.editorji.com/business-news/budget" target="_blank">Budget</a> speech, Nirmala&nbsp;Sitharaman said that there has been a tremendous increase in the use of virtual digital assets and it requires a specific tax regime.
The income from virtual digital assets will be taxed at 30 per cent and no deduction will be allowed for expenditure undertaken on its acquisition, the finance minister said.
<a href="https://www.editorji.com/liveblog/budget/budget-2022-live-updates-fm-nirmala-sitharaman-to-present-budget-at-11-am-today-26" target="_blank">Budget 2022 Live Updates: Record Capex,&nbsp;Tax on Crypto&nbsp;&amp; No Income Tax relief for middle class</a> &nbsp;

virtual digital assets

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