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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