Question

    The union budget levies _____ tax on cryptocurrency

    assets in India?
    A 20% Correct Answer Incorrect Answer
    B 40% Correct Answer Incorrect Answer
    C 15% Correct Answer Incorrect Answer
    D 30% Correct Answer Incorrect Answer
    E 25% Correct Answer Incorrect Answer

    Solution

    In the Budget allocation of 2022, the finance minister announced that transfer of any cryptocurrency asset will be taxed at 30%. No deduction except cost of acquisition will be allowed and no loss in transaction will be allowed to be carried forward.

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