Income From Virtual digital assets (VDA) will be taxable at the rate of 30%. Cryptocurrencies fall under the definition of Virtual Digital assets. Explained in the end. Deduction of Expense No deduction in respect of any expenditure (other than the cost of acquisition) or allowance or set-off of any loss shall be allowed to the assessee under any provision of the Act while computing income from the transfer of such asset.
Tax on Cryptocurrencies In India 2022
Tax on Cryptocurrencies In India 2022
Tax on Cryptocurrencies In India 2022
Income From Virtual digital assets (VDA) will be taxable at the rate of 30%. Cryptocurrencies fall under the definition of Virtual Digital assets. Explained in the end. Deduction of Expense No deduction in respect of any expenditure (other than the cost of acquisition) or allowance or set-off of any loss shall be allowed to the assessee under any provision of the Act while computing income from the transfer of such asset.