Govt to issue clarification on virtual digital assets soon

[ad_1] Employers have to pay 30% tax virtual digital asset (VDA) like cryptocurrency They provide their employees as compensation or otherwise. Officials told ET that the government is likely to give a detailed explanation this week regarding the tax on VDA announced in the budget. The difference between the cost of acquisition of the asset and the transfer value to the employee will be taxed. In case of employees, the transfer price will be treated as cost of acquisition. A government official said, “The rules are being worked out…these will…