35.7 C
Delhi
Monday, May 23, 2022

Taxing crypto does not mean validity

Must read

Taxing crypto does not mean validity

Finance Minister Nirmala Sitharaman on Friday said the government has only taxed profits from cryptocurrency transactions and has done nothing to legalise or restrict or regulate it.

She said that taxing is the sovereign right of the government. He also said that a decision on the ban will be taken on the basis of the conclusion drawn from the deliberations. Responding to the discussion on the Budget in the Rajya Sabha, Sitharaman said, “I am not going to legalise or ban cryptocurrencies at this time, whether there will be a ban or not, a decision on whether there will be a ban or not, will be taken on the basis of the conclusion coming out of the ongoing discussions.”

On the tax on profits from cryptocurrencies, he said, “Whether it will be legalized or not is a different question. But I have imposed taxes, because taxing is the sovereign right of the government. The Finance Minister was responding to a question raised by Congress’ Chhaya Verma on cryptocurrencies.

It may be recalled that Sitharaman had said in her Budget speech that profits from transactions of digital assets or cryptocurrencies will be taxed at 30%.

Also Read This..

Keyword: ratan Tata, net worth, article, CEO, group, air india, maharaja, come back, sale, young, owner,  ltd news, ltd history, wardwizard innovations & mobility ltd balance sheet, wardwizard products list, scoter, bike, electric, 

- Advertisement -spot_img

Related articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest article