https://www.taxtmi.com/article/detailed?id=13367 The article outlines the VDA regime: Section 2(47A) defines virtual digital assets with executive exclusions; Section 115BBH taxes income from VDA transfers at a prescribed flat rate allowing only cost of acquisition (no indexation), disallowing other deductions, set-off or carry forward of losses; Section 194S mandates deduction of tax at source on payments for VDA transfers with specified person exceptions and rules for in kind consideration; CBDT circulars clarify deductor liability and procedural compliance, and a tribunal decision is noted treating cryptocurrency rights as capital assets. en-us Tue, 21 Jan 2025 14:19:05 +0530 Tue, 21 Jan 2025 14:19:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13367 The article outlines the VDA regime: Section 2(47A) defines virtual digital assets with executive exclusions; Section 115BBH taxes income from VDA transfers at a prescribed flat rate allowing only cost of acquisition (no indexation), disallowing other deductions, set-off or carry forward of losses; Section 194S mandates deduction of tax at source on payments for VDA transfers with specified person exceptions and rules for in kind consideration; CBDT circulars clarify deductor liability and procedural compliance, and a tribunal decision is noted treating cryptocurrency rights as capital assets. Articles Income Tax Tue, 21 Jan 2025 14:19:05 +0530 https://www.taxtmi.com/article/detailed?id=13367