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India Lower House Approves Crypto Tax Rules, Effective Next FY

March 25, 2022, 12:18 PM

Provisions of the crypto tax law will gradually roll out starting with the flat 30% tax on income from digital assets effective from April 1, 2022.

  • The Finance Bill, 2022, passed in the Lok Sabha on Friday, will also be discussed in the Upper House or Rajya Sabha
  • Among various amendments the Bill had proposed are rules on the income and transfer of virtual digital or crypto assets
  • A 1% TDS on all crypto assets transfers above a certain amount will take effect from July 1, 2022
  • Read more: India Bans Offsetting Loss on One Crypto With Gain From Another ...