Beginning April 1, all forms of virtual digital assets (VDA) or crypto assets that are sold at a profit will attract a tax of 30 percent. The announcement was made by Finance Minister Nirmala Sitharaman in her Union Budget speech this year.
As the new rules kick in cryptocurrency investors are worried and have several questions like, will one have to pay tax on crypto gifts? How will the crypto assets be taxed?
Watch video for a complete explainer.