Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2022-23. In her Budget speech, she announced plans to start a digital currency and tax crypto assets, as the country keeps pace with the global move toward virtual financial instruments.
She Announced that Income from the transfer of any virtual digital assets will be taxed at 30%.
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Taxation of Virtual Digital Assets or #crypto is a step in the right direction. It gives a lot of clarity
India’s focus on digital innovation and promotion of blockchain is welcome
The details need to be studied to comment further
But it’s great news for crypto investors in India
— Sumit Gupta (CoinDCX) (@smtgpt) February 1, 2022
Hope to see a reduction of crypto ban fear in India
India just taxed crypto ?
Lot to unpack here but overall this is a very positive step forward for crypto ecosystem in India ??#IndiaWantsCrypto
— Nischal (WazirX) ⚡️ (@NischalShetty) February 1, 2022
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