Highlights

  • No deduction allowed while computing income except cost of acquisition.
  • Loss cannot be set off from any other income.
  • TDS of 1% on payment made for transfer of virtual digital asset

Latest news

Uttar Pradesh: Six killed in Shahjahanpur road accident

Uttar Pradesh: Six killed in Shahjahanpur road accident

US Govt urges Supreme Court to dismiss Mumbai terror accused Rana's petition for writ of certiorari

US Govt urges Supreme Court to dismiss Mumbai terror accused Rana's petition for writ of certiorari

HRW accuses Israel of 'acts of genocide' for Gaza water access

HRW accuses Israel of 'acts of genocide' for Gaza water access

Arvind Kejriwal urges NDA allies to reconsider support for BJP over Amit Shah’s Ambedkar remark

Arvind Kejriwal urges NDA allies to reconsider support for BJP over Amit Shah’s Ambedkar remark

Nuclear-armed Pakistan says fresh US sanctions 'biased'

Nuclear-armed Pakistan says fresh US sanctions 'biased'

Andhra High Court upholds lesbian couple’s right to live together, parents told not to ‘interfere’

Andhra High Court upholds lesbian couple’s right to live together, parents told not to ‘interfere’

Mumbai boat tragedy: Life jackets made mandatory for rides from Gateway of India

Mumbai boat tragedy: Life jackets made mandatory for rides from Gateway of India

FIR against Samajwadi Party’s Sambhal MP for power theft

FIR against Samajwadi Party’s Sambhal MP for power theft

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

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

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

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 Budget speech, Nirmala 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.

Budget 2022 Live Updates: Record Capex, Tax on Crypto & No Income Tax relief for middle class

ADVERTISEMENT

Up Next

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

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

New Zealand falls into recession with abrupt economic slowdown

New Zealand falls into recession with abrupt economic slowdown

Dollar Pushes Indian Rupee to Record Low of 85, Fed's Policy Outlook in Focus

Dollar Pushes Indian Rupee to Record Low of 85, Fed's Policy Outlook in Focus

Oil Prices Rally on Inventory Drop, Market Awaits Fed Projections

Oil Prices Rally on Inventory Drop, Market Awaits Fed Projections

SEBI Expands UPSI Definition, Strengthens ESG and Governance Frameworks

SEBI Expands UPSI Definition, Strengthens ESG and Governance Frameworks

Gold Imports surge in November: Commerce Ministry examining data for any calculation error

Gold Imports surge in November: Commerce Ministry examining data for any calculation error

ADVERTISEMENT

editorji-whatsApp

More videos

Indian Stock Market: Mixed Sectoral Performance Amid IPO Highlights

Indian Stock Market: Mixed Sectoral Performance Amid IPO Highlights

Parliamentary Panel bats for legal guarantee of MSP to protect farmers' interests

Parliamentary Panel bats for legal guarantee of MSP to protect farmers' interests

Bihar fully prepared to create robust business ecosystem, investment safe: Dy CM Samrat Choudhary

Bihar fully prepared to create robust business ecosystem, investment safe: Dy CM Samrat Choudhary

"If they tax us, we tax them...," Trump Signals Tough Trade Stance; Reciprocal Tariffs on India

"If they tax us, we tax them...," Trump Signals Tough Trade Stance; Reciprocal Tariffs on India

Top 5 Losers of NIFTY 50: A Day of Decline for Leading Stocks

Top 5 Losers of NIFTY 50: A Day of Decline for Leading Stocks

India's renewable energy capacity addition doubled to 15 GW in Apr-Nov: Pralhad Joshi

India's renewable energy capacity addition doubled to 15 GW in Apr-Nov: Pralhad Joshi

 Indian Markets Open Lower Amid Caution Ahead of U.S. Federal Reserve Meeting

Indian Markets Open Lower Amid Caution Ahead of U.S. Federal Reserve Meeting

Five of top-10 most valued firms together add Rs 1.13 lakh Crore in market valuation

Five of top-10 most valued firms together add Rs 1.13 lakh Crore in market valuation

Airlines are price takers, they do not have influence on prices they pay: IATA Chief Economist

Airlines are price takers, they do not have influence on prices they pay: IATA Chief Economist

India’s import of Russian oil drops in November on shrinking discounts

India’s import of Russian oil drops in November on shrinking discounts

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.