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    Question

    How much amount has been collected as tax deducted at

    source on payments made from transfer of virtual digital currencies in March 2023?
    A Rs.139.2 crore Correct Answer Incorrect Answer
    B Rs.141.7 crore Correct Answer Incorrect Answer
    C Rs.153.6 crore Correct Answer Incorrect Answer
    D Rs.157.9 crore Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

      The government has collected Rs 157.9 crore as tax deducted at source on payments made from transfer of virtual digital currencies in March 2023.      The government had brought virtual digital assets such as cryptocurrencies under the income tax net in the Union Budget 2022-23. Income from the transfer of these assets is taxed at the rate of 30%. Further, a 1% TDS is also levied on payment of transfer of these assets. Gift of VDAs is also to be taxed in the hands of the recipient.

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