Union Budget 2022 Financial News

03.02 / 06:27

cryptocurrency Budget 2022 Union Budget 2022 Budget that pricked the crypto currency bubble

Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities

01.02 / 17:19

Budget 2022 Union Budget 2022 crypto tax union budget Budget 2022: Did FM just make cryptocurrencies legal by taxing them?

While this has boosted the morale of the industry, a lot of crypto enthusiasts are wondering if the Finance Minister just made cryptocurrencies legal. According to Purushottam Anand, Founder of blockchain law firm Crypto Legal, taxing income from cryptocurrencies does not necessarily and explicitly legalise cryptocurrencies because income tax is not concerned about the manner or means of acquiring the income.

01.02 / 15:25

Budget 2022 Union Budget 2022 crypto tax union budget Crypto players cheer Budget announcements; high tax may hit volumes

Along with this, she proposed that the Reserve Bank of India (RBI) will introduce its digital currency in the new financial year, which will lead to a more efficient and cheaper currency management system. The government also laid out detailed provision on tax deducted at source (TDS) at a rate of 1 per cent levied on payments made on transfer of digital assets.

01.02 / 15:19

Blockchain Digital Union Budget 2022 Union Budget 2022: All Except RBI Currency Are Assets, Finance Minister To NDTV On 30% Tax

Union Budget 2022: Nirmala Sitharaman said digital assets transactions will be taxed at 30%

01.02 / 12:17

Budget 2022 Union Budget 2022 crypto tax union budget Budget 2022: Govt to tax cryptocurrencies at flat rate of 30%

The loss arising from the sale of the virtual assets cannot set off against the any other income, the government cleared. Also, gifting of crypto tokens and the virtual assets would be taxed at the hands of the recipient. A TDS of 1 per cent will also be levied on payment made for transfer, above a monetary threshold, FM said.

18.01 / 19:16

crypto assets Budget 2022 Union Budget 2022 Will Sitharaman acknowledge demands for crypto exchanges in Budget 2022?

crypto bill has taken a back seat. That said, it is highly unlikely that the crypto industry will go unnoticed by the Finance Ministry. Domestic exchanges have some major demands they wish to be acknowledged by the government. Majority of exchanges have demanded clarity about the taxation over the income earned from the crypto assets and GST rules implemented on the trading platforms to ease the operations for all the parties involved.

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