Union Budget 2022: Has India Legalised Cryptocurrency? | Nation Wants To Know

On Nation Wants To Know, with Padmaja Joshi, we discuss, India’s crypto tax regime. The Government has taken a conservative stand on the taxation of crypto assets by announcing a flat 30% on income from such income. In her Budget Speech 2022, Finance Minister Nirmala Sitharaman said that 30% tax would be charged on income from the transfer of virtual digital assets. She further said no set-off will be allowed in case of losses. Also, gifts in virtual digital assets would be taxed in the hands of the recipient. The crypto industry and experts welcomed the 30% tax rule for digital assets income. Not just this, there was no negative impact on prices of most of the popular crypto tokens including Bitcoin, ETH, WRX, SOL, ADA, DOGE, MATIC listed on Indian exchanges. what's happening here? Today on Times Now, Padmaja Joshi gives us the bare facts before welcoming our guests for the night. We are joined by Rohinton Sidhwa, Vikram Subburaj, Anoush Bhasin, Nischal Shetty who explain the whole incident. Keep watching to know more! #NationWantsToKnow #PadmajaJoshi
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