Union Budget 2022: 30% Tax on Virtual Asset Transfer

The government did not adjust the income tax brackets. Finance Minister Nirmala Sitharaman has made a number of significant announcements, including a 30 percent tax on the transfer of digital assets. In the second year of the COVID-19 epidemic, Finance Minister Nirmala Sitharaman delivered the Union Budget 2022 today. “We seek to provide the ecology that the middle class requires. This budget aims to establish the groundwork for Amrit Kal, which will run from India 75 to India 100,” Sitharaman stated today. Since the onset of the epidemic in January 2020, this was the sixth Budget session. The government did not adjust the income tax brackets. A 30 percent tax on the transfer of digital assets is one of the major announcements. The Reserve Bank of India, or RBI, will also introduce a new digital rupee based on blockchain technology this fiscal year. The Union Budget 2022 is also released during a month in which five states will hold legislative elections.The post Union Budget 2022: 30% Tax on Virtual Asset Transfer appeared first on Cryptoknowmics-Crypto News and Media Platform.