What is NFT under Income-tax Act and how they are taxed

The Government of India amended the Income-tax Act, 1961, to tax and regulated the incomes and profits under from various virtual digital assets. These digital assets have been defined in exhaustive manner i.e., crypto assets, NFTs or any other token of similar type. In June 2022, the government issued a notification clarifying what is considered as NFTs and what are not.

from Tax-Wealth-Economic Times https://ift.tt/EvXMJ5e