As announced in the Union Budget of Financial Year 2022 income from virtual digital assets will be t...........

General Studies (MTS) Indian Economy

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.

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