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.
Eknath Shinde News: Shiv Sena has issued a whip to the MLAs amid the crisis over the government a
The Delhi government is going to give a big gift to the people of Delhi today. It is going to ind
The gifts received by PM Modi will be auctioned from today, You can also bid from Rs 1700
The online auction of 1300 gifts received by Prime Minister Narendra Modi from the country and th
Russia threatens to close the gas pipeline, the oil may reach $ 300 per barrel
Western countries have imposed very strict sanctions after Russia attacked Ukraine. However, it d
PM Modi inaugurates Surat Diamond Bourse, read the specialty of the world's largest office complex
Prime Minister Narendra Modi today inaugurated the world's largest office complex in Surat, Gujar
The real purpose of the Russian attack against Ukraine was to prevent it from going to NATO, but
Abhishek Bachchan reached Kashi Vishwanath temple, bowed down in Baba's court, a picture surfaced
Abhishek Bachchan Visits Kashi Vishwanath Temple: Bollywood actor Abhishek Bachchan reached Kashi
After the commendable performance of the All India Alliance in the Lok Sabha elections, Congress
Till some time ago, spinners were considered a guarantee of success on Indian pitches, but the su
Once again a Hindu temple has been targeted in Canada. Anti-India slogans have been written on a
