Budget 2020: 30% tax slab on crypto gains, experts hail move; Cong questions

• India took a step closer to adopting cryptocurrencies after years of wavering on its stance, as the country seeks to keep up with the global move toward the digital assets. Finance Minister Nirmala Sitharaman announced that there will be a 30% tax on the income from the transfer of virtual assets. TDS will be imposed on payments for the transfer of crypto assets at a rate of 1% for transactions over a certain threshold. Furthermore, gifts of crypto assets will be taxed in the recipient's hands. Watch this video for more.