Cryptos to stay with 30 pc tax; digital rupee next fiscal
Deccan ChronicleChennai: By bringing cryptocurrency under the tax net, the Union Budget 2022 seems to have allayed fears regarding a probable ban. The announcement of finance minister Nirmala Sitharaman that the Reserve Bank of India will be introducing a ’digital rupee’ in 2022-23 will further strengthen the virtual asset market. The budget proposed to tax any income from transfer of ’virtual digital assets’ at 30 per cent. The Budget said that RBI will introduce Central Bank Digital Currency or digital rupee using blockchain and other technologies in 2022-23. "The announcement on the launch of a digital rupee using blockchain issued by the RBI will familiarise Indians with the benefits and efficiency of virtual currency, building an appetite for the crypto, blockchain and the multitudes of innovations and employment opportunities that these technologies are capable of fostering," said Avinash Shekhar, CEO, ZebPay.