In an Interveiw with Times Now, FM Sitharaman cleared the air around the Government’s plan to regulate Cryptocurrency. ‘Whether crypto is legitimate or not will be decided later. But they’re taxable, that’s my prerogative,’ said FM Sitharaman.
Timeframe for Crypto Regulation In India?
The Union Finance Minister of India Nirmala Sitharaman on Thursday highlighted the concerns regarding digital assets and their future in India. Replying to a question about banning Cryptocurrency in India, Sitharaman said before hurrying over any decision, we need to wait until the consultation is over and it may take some time.
# រួមបញ្ចូល | ‘Consultations on digital assets is on’, FM @ស៊ីនថារ៉ាម៉ាន doesn’t commit to timeframe on crypto regulation.
Watch TIMES NOW LIVE: https://t.co/sZaflfMNLp#FranklySpeakingWithNirmala | @navikakumar | #FranklySpeaking pic.twitter.com/wcwUVYCRzq
— TIMES NOW (@TimesNow) ខែកុម្ភៈ 3, 2022
In a big move to bring digital assets transactions under the tax bracket, FM Sitharaman on 1st Feburary, presenting the Union Budget 2022-23 in Parliament announced that any income from the transfer of any virtual digital asset shall be taxed at a rate of 30%.
“No deduction in respect of any expenditure or allowance shall be allowed while computing such income except cost of acquisition,” She added.
Sitharaman also announced the imposition of 1% TDS on payment made in relation to the transfer of virtual digital assets. Gift of the virtual digital asset is also proposed to be taxed in the hands of the recipient,” she further added.
ការមិនទទួលខុសត្រូវ
ខ្លឹមសារដែលបានបង្ហាញអាចរាប់បញ្ចូលទាំងគំនិតផ្ទាល់ខ្លួនរបស់អ្នកនិពន្ធនិងស្ថិតក្នុងស្ថានភាពទីផ្សារ។ ធ្វើការស្រាវជ្រាវទីផ្សាររបស់អ្នកមុនពេលវិនិយោគលើគ្រីបគ្រីប។ អ្នកនិពន្ធឬការបោះពុម្ពផ្សាយមិនទទួលខុសត្រូវចំពោះការបាត់បង់ហិរញ្ញវត្ថុផ្ទាល់ខ្លួនរបស់អ្នកទេ។
អំពីអ្នកនិពន្ធ
Source: https://coingape.com/crypto-legitimate-will-decide-later-sitharaman/