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She also announced a 1 per cent TDS on payment made in relation to the transfer of a digital asset. Twitter is abuzz with memes and jokes describing the pain of all the cryptocurrency investors. With the growing popularity of cryptocurrencies, many countries are starting to take notice and update their tax codes accordingly. In her shortest Budget speech till date, the Finance Minister proposed a 30 per cent tax on income from transactions in "virtual digital assets". Looking ahead to the future of crypto taxation, you may want to consider potential changes to tax laws.
