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      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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