New Delhi. The budget of India has been presented today. In this a big announcement was made that now the earnings of cryptocurrencies are also being brought under the tax net. Also, giving a gift to someone will also attract tax. Cryptocurrencies and NFTs have been brought under the tax net. Finance Minister Nirmala Sitharaman on Tuesday announced a tax of 30 percent on any earnings from this digital asset. Also, no exemption of any kind will be allowed in this.
Also if you someone cryptocurrency If given as a gift, it will also come under the purview of tax. Apart from this, the Finance Minister announced that TDS of 1 percent will also be levied on the transfer of virtual digital assets. Let us tell you that there were discussions going on for a long time to ban cryptocurrency, but now it is clear from the tax imposed on it in the budget that there is a hope of bringing a law on it soon. Although people associated with the field expected from this budget that rules related to crypto could be brought, but at the moment it did not happen.
read more – Union Budget 2022: Finance Minister Sitharaman said – 5G spectrum will be auctioned in 2022, internet service will be faster in India!
In her Union Budget 2022 announcement, Finance Minister Nirmala Sitharaman also said that the country’s central bank, the Reserve Bank of India (RBI), will introduce a digital currency using blockchain and other assistive technology in the next financial year.
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first published:Feb. 1, 2022, 3:04 p.m.