https://www.taxtmi.com/article/detailed?id=10237 The Finance Bill, 2022 creates a distinct tax treatment for income from virtual digital assets with a separate high rate tax, denial of deductions (except cost of acquisition), prohibition on set off and carry forward of losses, and a withholding obligation on consideration for transfers; it also imposes non allowability of health and education cess as business expense, restricts set off where undisclosed income arises from search/survey, extends startup and manufacturing concessional relief timelines, expands NPS deduction to State employees, rationalises surcharge and AMT for cooperatives, and broadens withholding and IFSC incentives. en-us Wed, 02 Feb 2022 12:21:45 +0530 Wed, 02 Feb 2022 12:21:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10237 The Finance Bill, 2022 creates a distinct tax treatment for income from virtual digital assets with a separate high rate tax, denial of deductions (except cost of acquisition), prohibition on set off and carry forward of losses, and a withholding obligation on consideration for transfers; it also imposes non allowability of health and education cess as business expense, restricts set off where undisclosed income arises from search/survey, extends startup and manufacturing concessional relief timelines, expands NPS deduction to State employees, rationalises surcharge and AMT for cooperatives, and broadens withholding and IFSC incentives. Articles Budget - Tax Proposals Wed, 02 Feb 2022 12:21:45 +0530 https://www.taxtmi.com/article/detailed?id=10237