The 'Virtual Digital Assets' (VDA) are taxed under Income Tax at: MCQ with Answer and Explanation

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The 'Virtual Digital Assets' (VDA) are taxed under Income Tax at:

A. 10%

B. 30% (plus surcharge and cess)

C. 20%

D. Normal slab rates

Answer: Option B

Solution (By JKSSB Mock Tests)

Income from transfer of VDAs like cryptocurrency is taxed at 30% flat rate.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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The 'Foreign Trade Policy 2023' has introduced:

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B. Only service export incentives

C. Abolition of all schemes

D. One-time amnesty for export obligation defaults, new e-commerce export hubs, etc.

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Correct Answer: Option D

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FTP 2023 focused on ease of doing business, amnesty, and new initiatives.

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The 'Deemed Exports' under GST are:

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Correct Answer: Option B

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Deemed exports are specified transactions where goods supplied do not leave India, but the supplier is entitled to refund of GST.

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In government accounting under PFMS, what does the SNA model stand for?

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Correct Answer: Option C

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This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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