Income-tax Act, 1961

Section - 115BBH - Tax on income from virtual digital asset

Tax on income from virtual digital asset.

115BBH. (1) Where the total income of an assessee includes any income from the transfer of any virtual digital asset, notwithstanding anything contained in any other provision of this Act, the income-tax payable shall be the aggregate of,-

(a)	-	the amount of income-tax calculated on the income from transfer of such virtual digital asset at the rate of thirty per cent; and
(b)	-	the amount of income-tax with which the assessee would have been chargeable, had the total income of the assessee been reduced by the income referred to in clause (a).

(2) Notwithstanding anything contained in any other provision of this Act,-

(a)

no deduction in respect of any expenditure (other than cost of acquisition, if any) or allowance or set off of any loss shall be allowed to the assessee under any provision of this Act in computing the income referred .... To read the full section download the app from Google Play store