Cryptocurrencies will now be taxed in India. The new tax laws on crypto and other digital assets will come into effect from 1 April 2022. Presenting the Union in the Lok Sabha, Finance Minister Nirmala Sitharaman said the transfer of digital assets will attract a 30 per cent tax. Additionally, all transfers of such assets will attract 1 per cent tax deducted at source (). In her Budget speech on 1 February, Sitharaman said gifts received in the form of cryptocurrencies will also be taxed at the same rate.
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