CBDT notifies Exclusion of digital assets from definition of virtual digital asset

CBDT notifies Exclusion of digital assets from definition of virtual digital asset

Reetu | Jul 1, 2022 |

CBDT notifies Exclusion of digital assets from definition of virtual digital asset

CBDT notifies Exclusion of digital assets from definition of virtual digital asset

The Central Board of Direct Taxes(CBDT) Notifies Exclusion of digital assets from definition of virtual digital asset Vide Notification No. 74/2022 dated 30th June 2022.

The Notification is Given Below:

S.O. 2958(E).––In exercise of the powers conferred by proviso to clause (47A) of section 2 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies following virtual digital assets which shall be excluded from the definition of virtual digital asset:

(i) Gift card or vouchers, being a record that may be used to obtain goods or services or a discount on goods or services;

(ii) Mileage points, reward points or loyalty card, being a record given without direct monetary consideration under an award, reward, benefit, loyalty, incentive, rebate or promotional program that may be used or redeemed only to obtain goods or services or a discount on goods or services;

(iii) Subscription to websites or platforms or application.

2. This notification shall come into force from the date of publication in the Official Gazette.

For Official Notification Download PDF Given Below:

StudyCafe Membership

Join StudyCafe Membership. For More details about Membership Click Join Membership Button
Join Membership

In case of any Doubt regarding Membership you can mail us at [email protected]

Join Studycafe's WhatsApp Group or Telegram Channel for Latest Updates on Government Job, Sarkari Naukri, Private Jobs, Income Tax, GST, Companies Act, Judgements and CA, CS, ICWA, and MUCH MORE!"




Author Bio
My Recent Articles
Income Tax Vivad Se Vishwas Scheme 2.0 comes into Effect; Know all about it CBI arrested Two GST Officials for Demanding Bribe of Rs.4 Lakh GST Collection: October records Second Highest Collection at Rs.1.87 lakh Crore CBDT Notifies Specified Forms to be Furnish Electronically under Rule 131 for Income Tax Compliance Voltas wins Appeal against GST Demand Order; Appellate Authority drops Demand and PenaltyView All Posts