News > Cryptocurrency Tax: When crypto assets received as gift are tax exempt in your hands
Cryptocurrency Tax: When crypto assets received as gift are tax exempt in your hands
The Economic Times | 15/02/2022 12:34 PM | Click to read full article
As per the Finance Minister's Budget 2022 speech, gifting of virtual digital assets such as crypto assets, Non-fungible tokens ( NFTs ) etc, will be taxable in the hands of the recipient.
However, under Income-tax Act, 1961, gifts made to specified relatives or made on specific occasions are exempted from tax irrespective of the amount of gift.
