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(CBDT via notifications S.O. 2959 (E) and S.O. 2958(E) provides exceptions to the 30% Tax And 1% TDS on VDA)
The Central Board of Direct Taxes (CBDT) on 30th June 2022 clarified that any virtual digital asset can be considered as an NFT for taxation under clause (47A) of section 2 of the Income-tax Act, 1961 however, the following are exempt from the taxation norms for VDA:
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