Question
Which of the following is the status of
Crypto-currencies in India?Solution
The 2022-23 Budget has brought in clarity with regard to levy of income tax on crypto assets. From April 1, a 30% I-T plus cess and surcharges, will be levied on such transactions in the same manner as it treats winnings from horse races or other speculative transactions. The Budget 2022-23 also proposed a 1% TDS on payments towards virtual currencies beyond Rs 10,000 in a year and taxation of such gifts in the hands of the recipient. The threshold limit for TDS would be Rs 50,000 a year for specified persons, which include individuals/HUFs who are required to get their accounts audited under the I-T Act. The provisions related to 1% TDS will come into effect from July 1, 2022, while the gains are taxed effective April 1.
Read the given statement and conclusions carefully. Decide which of the given conclusions is/are true based on the statement.
Statement:
U...
Statements: U $ N © C @ H © Y
Conclusions:Â
 I. U © HÂ
II. C # UÂ
III.H © U
Statements: D > E > G ≤ H < I; G > P > F
Conclusions:
I. D > F
II. P < I
III. D > I
If '>' denotes '+', '<' denotes '-', '-' denotes '×', '×' denotes '÷', '÷' denotes '=', then choose the correct statement of the following.
...Statements: Z ≤ O = Q < P; A = X > M = Y ≥ P
Conclusions:
I. A > O
II. Z < X
III. Q ≤ M
Statement: A < B; D ≤ C = B; I > C; E ≥ B
Conclusion:
I. I > E
II. E ≥ I
Statements: S > U ≥ V = X, Y < M < X, Y = T ≥ W
Conclusions:
I. S > Y
II. M ≤ U
III. W < XStatement: C ≥ O ≥ S = Z ≤ N = R
Conclusions:
I. C > N
II. S ≤ R
Statements: Z % Y; X # W; U % V; W & V; Y @ X
Conclusions:Â Â Â Â Â
I. U @ X Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â ...
Statements: B & A, A # O, O $ Z, Z @ S
Conclusions:
I. Z $ A
II. Z & A
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