The Budget announcement of taxing 'virtual digital assets' or crypto currencies will help the income-tax department measure the "depth" of this trade in the country, know the investors and the nature of their investments and it does not "attach any legality" to these transactions, Central Board of Direct Taxes chairman J B Mohapatra said.
In the Union Budget presented in Parliament by Finance Minister Nirmala Sitharaman, a total of Rs 1,52,369 crore has been set aside for capital expenditure that includes purchasing new weapons, aircraft, warships and other military hardware.
The Budget should overall seek to announce tax measures and policies which boost consumption in the economy and facilitate a low interest rate regime. This would certainly have a positive impact on the automobile industry.
While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates. Her Budget for the fiscal year beginning April 2022 proposed a massive 35 per cent jump in capital expenditure to Rs 7.5 lakh crore, coupled with rationalisation of customs duty, an extension of time for setting up new manufacturing companies and plans for starting a digital currency and tax crypto assets.
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A portion of the Billie Jean King National Tennis Center is set to transform into a 350-bed temporary hospital on Tuesday, the USTA said, as the coronavirus outbreak strains resources in New York City, which as been dramatically affected by the pandemic. The site of the US Open and the crown jewel of American tennis, the venue has been thrust into the fray amid a medical crisis that has gripped the world and brought professional sports to a sudden and indefinite halt.
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