קריפּטאָ

ינדיאַ צו שטייַער קריפּטאָ גיינז ביי 30%, קיין באַפרייַונג איז ערלויבט

02/01/2022
ביטקאָין עטהערעום נייַעס

The Indian government has specified its taxation rule for cryptocurrencies. It will impose 30 percent taxation on the transfer of virtual assets from the financial year 2022-2023, Finance Minster Nirmala Sitaraman conformed in her budget speech on Tuesday.

“Any income from virtual digital assets is taxable at 30 percent,” Sitaraman said in the parliament.

Further, there will be no tax deductions and exemptions for digital currencies incomes available to Indian taxpayers. Also, any gifts made in digital currencies will be taxed at the hands of the recipient.

צו רעכט שפּור אַלע קריפּטאָ טראַנזאַקשאַנז ין דער מדינה, די רעגירונג וועט אויך אָפּלייגן אַ 1 פּראָצענט שטייַער דעדוקטיבלע ביי מקור (טדס) פֿאַר אַלע קריפּטאָ קראַנטקייַט טראַנספערס. אָבער, עס איז נישט קלאָר ווי אַלע די כּללים וועט זיין ימפּלאַמענאַד אין ניט-וועקסל וואָלאַץ.

The Finance Minister also confirmed that crypto holders cannot offset their losses from
 
 קריפּטאָקוררענסיעס  with the gains, which is allowed for stock investors.

“There will be no deduction with exception of the cost of
 
 אַקוואַזישאַן  . The TDS is applicable beyond a specified monetary threshold, and the gift of virtual currencies is taxable in the hands of the recipient,” she added.

Big CBDC Plans

The budget speech further revealed that the Reserve Bank of India (RBI) is going to introduce a central bank digital currency (CBDC) in the next financial year. However, details on the timeline of that project are yet to come out.

“Introduction of a central bank digital currency will give a big boost to the digital economy,” the Finance Minister said. “Digital currency will also lead to a more efficient and cheaper currency management system.”

Meanwhile, the Indian government has also drafted a bill to regulate the booming crypto industry, possibly imposing a ban. But, the crypto bill was not listed on the parliamentary docket of the ongoing session that started on Monday.

The Indian government has specified its taxation rule for cryptocurrencies. It will impose 30 percent taxation on the transfer of virtual assets from the financial year 2022-2023, Finance Minster Nirmala Sitaraman conformed in her budget speech on Tuesday.

“Any income from virtual digital assets is taxable at 30 percent,” Sitaraman said in the parliament.

Further, there will be no tax deductions and exemptions for digital currencies incomes available to Indian taxpayers. Also, any gifts made in digital currencies will be taxed at the hands of the recipient.

צו רעכט שפּור אַלע קריפּטאָ טראַנזאַקשאַנז ין דער מדינה, די רעגירונג וועט אויך אָפּלייגן אַ 1 פּראָצענט שטייַער דעדוקטיבלע ביי מקור (טדס) פֿאַר אַלע קריפּטאָ קראַנטקייַט טראַנספערס. אָבער, עס איז נישט קלאָר ווי אַלע די כּללים וועט זיין ימפּלאַמענאַד אין ניט-וועקסל וואָלאַץ.

The Finance Minister also confirmed that crypto holders cannot offset their losses from
 
 קריפּטאָקוררענסיעס  with the gains, which is allowed for stock investors.

“There will be no deduction with exception of the cost of
 
 אַקוואַזישאַן  . The TDS is applicable beyond a specified monetary threshold, and the gift of virtual currencies is taxable in the hands of the recipient,” she added.

Big CBDC Plans

The budget speech further revealed that the Reserve Bank of India (RBI) is going to introduce a central bank digital currency (CBDC) in the next financial year. However, details on the timeline of that project are yet to come out.

“Introduction of a central bank digital currency will give a big boost to the digital economy,” the Finance Minister said. “Digital currency will also lead to a more efficient and cheaper currency management system.”

Meanwhile, the Indian government has also drafted a bill to regulate the booming crypto industry, possibly imposing a ban. But, the crypto bill was not listed on the parliamentary docket of the ongoing session that started on Monday.

Source: https://www.financemagnates.com/cryptocurrency/news/india-to-tax-crypto-gains-at-30-no-exemption-is-allowed/