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Consider the following statements regarding the Income Tax Bill, 2025, and the classification of Virtual Digital Assets (VDAs):1. Virtual Digital Assets are categorized as property under the Income Tax Bill, 2025.2. Income generated from the sale or transfer of VDAs is subject to a flat 30% tax rate, with deductions allowed for transaction costs.3. Failure to report VDA holdings can lead to their classification as undisclosed income, subjecting them to additional taxation and potential asset seizure.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding the Income Tax Bill, 2025, and the classification of Virtual Digital Assets (VDAs):1. Virtual Digital Assets are categorized as property under the Income Tax Bill, 2025.2. Income generated from the sale or transfer of VDAs is subject to a flat 30% tax rate, with deductions allowed for transaction costs.3. Failure to report VDA holdings can lead to their classification as undisclosed income, subjecting them to additional taxation and potential asset seizure.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding the Income Tax Bill, 2025, and the classification of Virtual Digital Assets (VDAs):1. Virtual Digital Assets are categorized as property under the Income Tax Bill, 2025.2. Income generated from the sale or transfer of VDAs is subject to a flat 30% tax rate, with deductions allowed for transaction costs.3. Failure to report VDA holdings can lead to their classification as undisclosed income, subjecting them to additional taxation and potential asset seizure.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?.

Solutions for Consider the following statements regarding the Income Tax Bill, 2025, and the classification of Virtual Digital Assets (VDAs):1. Virtual Digital Assets are categorized as property under the Income Tax Bill, 2025.2. Income generated from the sale or transfer of VDAs is subject to a flat 30% tax rate, with deductions allowed for transaction costs.3. Failure to report VDA holdings can lead to their classification as undisclosed income, subjecting them to additional taxation and potential asset seizure.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.

Here you can find the meaning of Consider the following statements regarding the Income Tax Bill, 2025, and the classification of Virtual Digital Assets (VDAs):1. Virtual Digital Assets are categorized as property under the Income Tax Bill, 2025.2. Income generated from the sale or transfer of VDAs is subject to a flat 30% tax rate, with deductions allowed for transaction costs.3. Failure to report VDA holdings can lead to their classification as undisclosed income, subjecting them to additional taxation and potential asset seizure.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Consider the following statements regarding the Income Tax Bill, 2025, and the classification of Virtual Digital Assets (VDAs):1. Virtual Digital Assets are categorized as property under the Income Tax Bill, 2025.2. Income generated from the sale or transfer of VDAs is subject to a flat 30% tax rate, with deductions allowed for transaction costs.3. Failure to report VDA holdings can lead to their classification as undisclosed income, subjecting them to additional taxation and potential asset seizure.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Consider the following statements regarding the Income Tax Bill, 2025, and the classification of Virtual Digital Assets (VDAs):1. Virtual Digital Assets are categorized as property under the Income Tax Bill, 2025.2. Income generated from the sale or transfer of VDAs is subject to a flat 30% tax rate, with deductions allowed for transaction costs.3. Failure to report VDA holdings can lead to their classification as undisclosed income, subjecting them to additional taxation and potential asset seizure.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Consider the following statements regarding the Income Tax Bill, 2025, and the classification of Virtual Digital Assets (VDAs):1. Virtual Digital Assets are categorized as property under the Income Tax Bill, 2025.2. Income generated from the sale or transfer of VDAs is subject to a flat 30% tax rate, with deductions allowed for transaction costs.3. Failure to report VDA holdings can lead to their classification as undisclosed income, subjecting them to additional taxation and potential asset seizure.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Consider the following statements regarding the Income Tax Bill, 2025, and the classification of Virtual Digital Assets (VDAs):1. Virtual Digital Assets are categorized as property under the Income Tax Bill, 2025.2. Income generated from the sale or transfer of VDAs is subject to a flat 30% tax rate, with deductions allowed for transaction costs.3. Failure to report VDA holdings can lead to their classification as undisclosed income, subjecting them to additional taxation and potential asset seizure.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice UPSC tests.