Notification on the definition of virtual digital asset, prescribes list of excluded assets and defines non-fungible tokens

The CBDT on June 30, 2022 vide Notification no. 74-2022 has notified following virtual digital assets which shall be excluded from the definition of virtual digital asset. The definition of virtual digital assets was broad and covers various non-crypto digital assets. Thus, these notifications assume significance as the excluded assets would be taxed under the normal tax regime.

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Notification PDF