CBDT notifies Non-Fungible Token (NFT) as Virtual Digital Assets

CBDT notifies Non-Fungible Token (NFT) as Virtual Digital Assets The Central Board of Direct Taxes (CBDT) vide Notification No. 75/2022 dated 30.06.2022 has notified non-fungible token (NFT) for the purpose of the definition of Virtual Digital Assets (VDAs) as per…

Guidelines for TDS on virtual digital assets (VDAs)

Guidelines for TDS on Virtual Digital Assets (VDAs) Central Board of Direct Taxes (CBDT) ┬áissued detailed guidelines for removing difficulties for deduction of tax (TDS) on virtual digital assets (VDAs) as per the provision of section 194S of the Income-tax…

Scheme for taxation of virtual digital assets (Cryptocurrencies & NFT)

Scheme for Taxation of Virtual Digital Assets (Cryptocurrencies & NFT) The amount of cryptocurrency transactions has dramatically increased. Provisions were adopted to describe such assets, allow for the taxes of income flowing from transactions in such assets, and TDS provisions…