CBDT specifies non-fungible token which shall not be considered as virtual digital asset
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
New Delhi, the 30th June, 2022
(Income-tax)
S.O.2959(E).––In exercise of the powers conferred by clause (a) of Explanation to clause (47A) of section 2 of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred as ‘the Act’), the Central Government hereby specifies a token which qualifies to be a virtual digital asset as non-fungible token within the meaning of sub-clause (a) of clause (47A) of section 2 of the Act but shall not include a non-fungible token whose transfer results in transfer of ownership of underlying tangible asset and the transfer of ownership of such underlying tangible asset is legally enforceable.
2. This notification shall come into force from the date of publication in the Official Gazette.
[F. No. 370142/29/2022-TPL(Part-I)]
ANKIT JAIN, Under Secy.
Remuneration paid by CA firm to wives of CA partners for their services rendered allowed in the absence of any…
When assessee did not opt yes or no to receive notices by email, such notices amounted to no service In…
CIT(A) should have considered the details statement of facts filed before him before dismissing the appeal of the assessee observing…
Empanelment of General Observers for ICSI Examinations June 2026 ICSI has invited interested members to enroll as General Observers for…
Income Tax Department Pune is engaging Young Professionals CA for assistance in ITAT representation With a view to augment departmental…
IDBI invites application for empanelment of Chartered Accountant firms as Concurrent Auditor for FY 2026-27 IDBI Bank has invited online…