Question : In the Union Budget of India 2022, what percentage of tax has been levied on the transfer of digital assets (cryptocurrency)?
Option 1: 20 percentage
Option 2: 5 percentage
Option 3: 30 percentage
Option 4: 10 percentage
Correct Answer: 30 percentage
Solution : The correct answer is 30 percentage.
The Union Budget 2022-23 brought to the virtual digital asset (VDA) market a levy of a flat 30 percent tax on gains from trade beginning from April 1, 2022.
The Finance Minister stated in Budget 2022 that no transaction loss would be permitted to be carried forward and that no deductions other than acquisition costs would be permitted.
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