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What income-tax rate did the Union Budget 2022–23 propose for income from transfers of virtual digital…

The Union Budget 2022–23 proposed taxing income from transfers of virtual digital assets at 30 percent. The rate in the announcement applied to income from the transfer.

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What income-tax rate did the Union Budget 2022–23 propose for income from transfers of virtual digital assets?

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Correct answer B

The Union Budget 2022–23 proposed taxing income from transfers of virtual digital assets at 30 percent. The rate in the announcement applied to income from the transfer.

Option feedback

Option A

The Budget proposed 30 percent on the specified income. It did not propose 20 percent.

Option B

The Budget proposed 30 percent on income from transfers of virtual digital assets.

Option C

The Budget proposed 30 percent on the specified income. It did not propose 40 percent.

Option D

The Budget proposed 30 percent on the specified income. It did not propose 50 percent.

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