Taxation of Virtual Digital Asset in India

Last updated: 07 January 2023
Quick Summary
This document explains the new tax regulations introduced in India's Budget 2022 concerning Virtual Digital Assets (VDAs). It details the 30% tax on profits from VDA trading, plus surcharges and cess, and a 1% TDS on crypto asset sales over Rs.50,000. The only benefit for taxpayers is the deduction of the acquisition cost. It also touches upon expert opinions regarding potential future tax reductions and the ongoing development of VDA trading regulations.

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Submitted by · Posted 07 January 2023 · Other files by Rutuja Salunke · Report
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