According to New Budget , taxation of cryptocurrencies and other virtual assets such as NFTs , Finance Minister Nirmlala Sitharaman on Tuesday introduces a new taxation rule of 30 percentage on income from transaction in such assets.
Also, to bring such assets under the tax net, she proposed a 1 per cent TDS (tax deducted at source) on transactions in such asset classes above a certain threshold.
It is similar to tax levied on income raise from the sale on cryptocurrency is similar to the tax rate such as KBC,Lottery , etc.
According to experts, this can lead to clear the roadmap for crypto industry by introduction of a 30% tax.
Congress leader Rahul Gandhi on Tuesday dubbed the Union Budget as a “zero-sum budget”, saying it has nothing for the salaried, middle class and the poor.
