MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 30th June, 2022
Notification No. 74/2022 - Income-tax
S.O. 2958(E). - In exercise of the powers conferred by proviso to clause (47A) of section 2 of the
Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies following virtual digital assets which shall be excluded from the definition of virtual digital asset:
(i) Gift card or vouchers, being a record that may be used to obtain goods or services or a discount on goods or services;
(ii) Mileage points, reward points or loyalty card, being a record given without direct monetary
consideration under an award, reward, benefit, loyalty, incentive, rebate or promotional program that may be used or redeemed only to obtain goods or services or a discount on goods or services;
(iii) Subscription to websites or platforms or application.
2. This notification shall come into force from the date of publication in the Official Gazette.
[Notification No. 74/2022/F. No. 370142/29/2022-TPL (Part-I)]
ANKIT JAIN, Under Secy.
CAclubindia
Guest
Notification No : 74/2022 - Income-taxPublished in Income Tax
Source : https://incometaxindia.gov.in/communications/notification/notification-no-74-2022.pdf