Friday, 24 March, 2023

Govt to soon issue roadmap on virtual digital resources

<p>Employers in India must pay a 30% tax on virtual digital assets (VDAs), such as cryptocurrency, that they provide as compensation or otherwise, says a news report. Officials told ET that this is one of the many clarifications the administration is expecting to give this week on the VDA tax proposed in the budget. The tax will be charged on the difference between the asset&#39;s acquisition cost and the employee&#39;s transfer price.</p>