Taxability of Virtual Digital Assets - An Overview

Chandni Ansari18 Oct, 2024Finance

Virtual Digital Assets, especially cryptocurrencies & Non – Fungible Tokens (NFTs), have gained tremendous popularity in recent times and the volumes of cryptocurrency trading has increased substantially. To bring clarity on such asset classes, the government has proposed to define virtual assets, provided for taxation rules on such assets, viz., taxes on income arising out of virtual assets, and TDS in the recent Union Budget 2022.