Finance Minister Nirmala Sitharaman presented her fourth Union Budget for the financial year 2022-23. With a heavy capital expenditure-focused thrust, Sitharaman introduced several provisions regarding the taxation of cryptocurrencies in the budget.
However, Rakesh Jhunjhunwala, who is called the 'Big Bull' of the Indian stock market, has described this budget as the 'death' of cryptocurrency. Jhunjhunwala believes that India is following China with its provisions on digital currency. He says that India wants to promote its digital currency and in the process is eliminating all other cryptos.
The 'Big Bull' said, "In fact, Budget 2022 has made the RBI the only competent authority to promote digital currency, in the process eliminating all other cryptos. This also becomes important because the cryptocurrency bill is yet to be passed in Parliament.”
According to media reports, Jhunjhunwala said, "I think what the government wants to do is that the Reserve Bank of India (RBI) promotes digital currency and kills all other currencies, as China is doing, which In a way, it's also the right approach."
What the budget says about cryptocurrencies
Let us tell you that Finance Minister Nirmala Sitharaman on Tuesday clarified the taxation on cryptocurrencies and other digital assets. He proposed to levy a 30 percent tax on transactions in such properties. Also, to bring such properties under the tax net, the Finance Minister proposed to levy one percent TDS (Tax Deduction at Source) on transactions above a limit in this property category.
While presenting the budget for the financial year 2022-23 in the Lok Sabha, Sitharaman said that gifts in crypto and digital assets will be taxed. After the budget is passed in Parliament, the tax proposal will come into force from April 1. Meeting the demand of the industry, he said that the Reserve Bank of India will introduce a blockchain technology-based digital rupee in 2022-23.
G20 In Delhi: Guests attending G-20 started arriving, VK Singh will welcome the Prime Minister of China
Various Union Ministers of State have been assigned responsibilities to receive foreign guests arriving for the G-20 summit. US President Joe Biden will be welcomed by Minister of State VK Singh at
IMD Rainfall Alert: Heavy rain in these states for the next 5 days, Meteorological Department warns
IMD Rainfall Alert, Weather Forecast: Winter has started in the hilly states and there is light snowfall in many places. On the other hand, in states like Uttar Pradesh, Delhi, and Bihar, the
UK News: Britain will include India in the list of safe countries, and citizens entering illegally will be affected.
The UK government has announced that it will add India to the list of safe states. After this, the process of return of people traveling illegally from India will speed up. Also, all asylum claims of
Direct tax collection: 24 percent increase in direct tax collection, reaching Rs 8.98 lakh crore
According to the Finance Ministry, there has been an increase of 24 percent in direct tax collection. With this, it has increased to Rs 8.98 lakh crore. These figures are from April 1 to October 8.
The country being disgraced; After liquor, LG now 'boiled' on water, advises Kejriwal
Lieutenant Governor VK Saxena, who has ordered a CBI inquiry against the Arvind Kejriwal government on the issue of liquor in Delhi, has now advised the government regarding water. After the complaint
Suspense on the name of CM in Karnataka! DK Shivakumar left for Delhi from Bangalore, said - I will not blackmail
The suspense remains on who will be the next CM of Karnataka. Karnataka Congress President DK Shivakumar and former CM Siddaramaiah are the frontrunners in the race for the next Chief Minister
Hijab Case Judgment Today: Supreme Court will decide on Hijab today, 10 days of debate between 21 lawyers
The Supreme Court will give its final verdict on Thursday on the Karnataka High Court's decision to ban Hijab in educational institutions. A division bench of Justices Hemant Gupta and Sudhanshu
Operation Kaveri: The first batch of 360 Indians reached Delhi from Sudan, people raised slogans of Indian Army and PM Modi Zindabad
The first batch of 360 Indians evacuated from violence-hit Sudan under Operation Kaveri arrived in Delhi on Wednesday in an Air Force aircraft. These Indians have been brought home via Jeddah (Saudi
Rupee Against Dollar: There is no break in the fall in the rupee, now it has reached a new record low against the dollar
On the one hand, where the stock market has been bullish for two consecutive days after a fall of six days, the Indian currency is not taking its name to stop falling in the rupee. It has been
Coronavirus Updates: After four days, the cases of Covid-19 increased again in the country, 3615 cases came in 24 hours
Corona cases have increased once again in the country. After four consecutive days of decline, there has been an increase in corona cases on Wednesday. The Health Ministry said that 3,615 new cases of
