Indian Economy

General Studies (MTS)

Title

45:30

8 of 24 completed

5 of 15 completed

38 of 100 completed

8 of 20 completed

Indian Economy - Understanding the basics of Indian economic system

As announced in the Union Budget of Financial Year 2022, income from virtual digital assets will be taxed at ______.

This questions was previously asked in

SSC MTS 8th July 2022 Shift-3

25%

35%

- As per the Union Budget for Financial Year 2022, income from virtual digital assets (VDAs), like cryptocurrencies and NFTs, will be taxed at 30%.

- Let's go through the options:

- Option 1: 2% – Incorrect, no such tax rate is prescribed for VDAs.

- Option 2: 25% – Incorrect, this is also not the specified rate.

- Option 3: 35% – Incorrect, it's higher than the actual rate.

- Option 4: 3% – Incorrect, this is much lower than actual.

- The correct answer is 30%, but none of the provided options mention it.

- The intent of this high taxation is to regulate the rapidly evolving digital asset market.