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of <h1>Virtual Digital Assets Face Strict 30% Tax Rate with No Deductions or Loss Offsets Under New Income Tax Bill Provision</h1> Legal Analysis Summary:The document examines a new tax provision for virtual digital assets (VDAs) in the Income Tax Bill, 2025. The legislation imposes a flat 30% tax rate on VDA transfers for any person, disallowing deductions and preventing loss set-offs or carry-forwards. This approach aims to create tax certainty, prevent avoidance, and regulate the digital asset sector. The provision closely mirrors existing Section 115BBH, maintaining a strict tax regime that treats VDA income as a special category, similar to speculative earnings like lottery winnings. The legislative strategy seeks to maximize revenue while establishing clear taxation guidelines for emerging digital asset transactions.
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