After cryptos, the taxman could come for your NFTs

- mymobilespecs

- According to reports, the Government of India is working on defining how non-fungible tokens or NFTs can be taxed.


Virtual digital assets

The Indian government, earlier this year, brought virtual digital assets (VDA) under the ambit of taxation.


CBDT guidelines on VDA

At the time, however, there were several aspects that were not clarified, including how NFTs are defined and calculation of the 1% TDS.


Advance tax due date in June

Now, the taxman is reportedly working on guidelines ahead of the first advance tax due date in June ...