The Indian government has also announced that any income from the transfer of digital assets will be taxed at 30% rate in India.
The government has also announced that any income from the transfer of digital assets will be taxed at a 30 percent rate. The announcement was made in the Budget for 2022. The government is trying to curb the number of cash transactions that are taking place in the country and hence, this decision to tax digital assets as well.
The Indian Government had been considering a proposal to tax the gains from digital assets. With this announcement, it is clear that the Indian Government is going ahead with this proposal and will be taxing gains from digital assets at 30%.
India is following in the footsteps of other countries like Australia and France which have also imposed similar taxes on digital assets.
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