Diabytes
Virtual digital assets News
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In 2022, the Indian government introduced a 30 per cent tax on virtual currencies and a 1 per cent deduction for every crypto transaction.
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The Central Board of Direct Taxes (CBDT) has now come up with a clarification.
CDBT said that gift cards, mileage points, reward points, and loyalty cards will not come under the definition of VDAs.
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The Central Board of Direct Taxes (CBDT) issued an FAQ on the TDS provisions on virtual digital assets (VDA) or cyptocurrencies, which was introduced in 2022-23 Budget and will be effective from July 1.
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