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India: Implemented Finance Bill 2022 including expansion of income tax to virtual digital assets

Policy overview

Description

Implemented Finance Bill 2022 including expansion of income tax to virtual digital assets

On 1 April 2022, the provisions making the income from trading virtual digital assets subject to an income tax of 30% outlined in the Finance Bill 2022 are implemented. The Bill specifies that cryptocurrencies and non-fungible tokens are classified …

Scope

Policy Area
Taxation
Policy Instrument
Taxation, nes
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
legislature
Government Body
parliament

Complete timeline of this policy change

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2022-02-01
under deliberation

On 1 February 2022, the Finance Bill 2022, which includes an expansion of income tax to include vir…

2022-03-25
under deliberation

On 25 March 2022, the Finance Bill, 2022, which includes an expansion of income tax to include virt…

2022-03-29
adopted

On 29 March 2022, the Finance Bill 2022, which includes an expansion of income tax to include virtu…

2022-04-01
in force

On 1 April 2022, the provisions making the income from trading virtual digital assets subject to an…