Budget 2022: 30% tax on digital currency

Budget 2022: 30% tax on digital currency, RBI to launch Digital Rupee based on blockchain technology

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Budget 2022: 30% tax on digital currency
Budget 2022: 30% tax on digital currency (Image: Canva)

Finance Minister Nirmala Sitharaman announced Budget 2022, one of the biggest announcements of this budget is the introduction of the Digital Rupee.

The Finance Minister has said that this year CBDC (Central Bank Digital Currency) will be introduced which will be managed by RBI and RBI will use Blockchain technology for this.

Along with this, the Finance Minister has also clarified that a 30% capital gain tax will be levied on the income from virtual digital assets and you cannot set off the loss from next year’s profit.

And if you gift these virtual digital assets to someone, then the recipient will have to pay tax.

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This article is only for education purpose and the author has his own views and research, so if you invest in these stocks then do it at your own risk and do the research yourself before investing.

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How much tax is imposed on digital assets in India?

Finance Minister Nirmala Sitharaman also clarified that a 30% capital gain tax will be levied on income from virtual digital assets and you cannot set off the loss from next year’s profit.

When will RBI launch Digital Rupee and on which technology it will be based?

Finance Minister Nirmala Sitharaman has said that this year (2022-23) CBDC (Central Bank Digital Currency) will be introduced which will be managed by RBI and RBI will use Blockchain technology for this.