#DigitalAssetBill VDAs are also to be included in the Annual Information Statement (AIS) of taxpayers.

* Tax on Gifts: Cryptocurrency gifts exceeding ₹50,000 in total value are taxed as 'Income From Other Sources' at regular income tax slab rates.

* No Offsetting of Losses: Losses incurred from the transfer of VDAs cannot be offset against any other income, including gains from other digital assets. Only the cost of acquisition can be claimed as a deduction.