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30% tax on income from virtual digital assets: Sitharaman

Shortpedia

Content Team
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I propose to provide that any income from the transfer of any virtual digital asset shall be taxed at the rate of 30%. No deduction in respect of any expenditure or allowance shall be allowed while computing such income, except the cost of acquisition, said FM Nirmala Sitharaman during her budget speech. Tax for cooperative societies has been reduced to 15% to provide a level playing field between cooperatives and corporates.