Yes, the buyback of cards will be treated as a sale of cards by the user to Rario and will be classified under the VDA provisions specified in Section 115BBH of the Income-tax Act, 1961, making it subject to applicable taxation.
How will the buyback transaction be classified for tax reporting—will it fall under Virtual Digital Assets (VDA)? Print
Modified on: Fri, 7 Feb, 2025 at 12:02 PM
Did you find it helpful? Yes No
Send feedbackSorry we couldn't be helpful. Help us improve this article with your feedback.