MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
New Delhi, the 30th June, 2022

Notification No. 74/2022- (Income-tax) | Dated: 30th June, 2022

S.O. 2958(E).In exercise of the powers conferred by proviso to clause (47A) of section 2 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies following virtual digital assets which shall be excluded from the definition of virtual digital asset:

(i) Gift card or vouchers, being a record that may be used to obtain goods or services or a discount on goods or services;

(ii) Mileage points, reward points or loyalty card, being a record given without direct monetary consideration under an award, reward, benefit, loyalty, incentive, rebate or promotional program that may be used or redeemed only to obtain goods or services or a discount on goods or services;

(iii) Subscription to websites or platforms or application.

2. This notification shall come into force from the date of publication in the Official Gazette.

[Notification No. 74/2022/F. No. 370142/29/2022-TPL (Part-I)]

ANKIT JAIN, Under Secy.

Read Also:-

CBDT notifies Non fungible token as virtual digital asset

Notification No. 75/2022-Income Tax [S.O. 2959(E).] Dated: 30/06/2022
Exclusion of certain digital assets from definition of virtual digital asset Notification No. 74/2022-Income Tax [S.O. 2958(E).] Dated: 30/06/2022
CBDT Amends rule 31A and inserts new Form No. 26QF Notification No. 73/2022- Income-Tax [G.S.R. 482(E).] Dated: 30/06/2022

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