Any profit earned from the sale of virtual digital assets will be taxed at a rate of 30 percent. According to FM, the receiver must pay tax on such presents.
- Any income derived from the transfer of a virtual digital asset will be subject to a 30percent tax.
- There is no way to offset a loss with a profit.
- Gain from the sale of a virtual digital asset is not tax deductible.
- The gift of a virtual digital asset is also taxable
I propose to provide that any income from transfer of any virtual digital asset shall be taxed at the rate of 30%. No deduction in respect of any expenditure or allowance shall be allowed while computing such income, except cost of acquisition: FM Nirmala Sitharaman#Budget2022 pic.twitter.com/DHQvZsRyeN
— ANI (@ANI) February 1, 2022
“I propose taxing any revenue derived from the transfer of any virtual digital asset at a rate of 30 percent. Except for the cost of purchase, no deduction for any expenditure or allowance is permitted when calculating such income”:FM Nirmala Sitharaman.