Amendment of section 2.

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..... day of April, 2021; (b) after clause (47), the following clause shall be inserted, namely: (47A) virtual digital asset means (a) any information or code or number or token (not being Indian currency or foreign currency), generated through cryptographic means or otherwise, by whatever name called, providing a digital representation of value exchanged with or without consideration, with the promise .....

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..... tion in the Official Gazette, specify; (b) the expressions currency , foreign currency and Indian currency shall have the same meanings as respectively assigned to them in clauses (h), (m) and (q) of section 2 of the Foreign Exchange Management Act, 1999 (42 of 1999) - Clause 3 seeks to amend section 2 of the Income-tax Act relating to definitions. Clause (42C) of the said section defines the expr .....

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..... ion of value exchanged with or without consideration, with the promise or representation of having inherent value, or functions as a store of value or a unit of account including its use in any financial transaction or investment, but not limited to investment scheme and can be transferred, stored or traded electronically; (b) a non-fungible token or any other token of similar nature by whatever n .....

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