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The Central Board Direct Taxes (CBDT) is investigating tax evasion and laundering of unaccounted income by high-risk persons through investment in crypto currency.
Such entities and individuals which are engaged in Virtual Digital Asset (VDA) transactions and have failed to comply with the Income-tax Act, 1961 have been identified for verification, sources said.
As per the Section 115BBH of Income Tax Act, 1961 inserted by the Finance Act, 2022 a flat tax rate of 30 per cent (plus applicable surcharge and cess) on income from VDA transfer is…
