Crypto Tax in India

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Crypto Tax in India

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Crypto Tax in India

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Crypto Tax in India

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Crypto Tax in India

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Crypto Tax in India

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Crypto Tax in India

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Crypto Tax in India

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Crypto Tax in India

1

The Indian government’s crypto tax legislation received the assent of the President of India.

Crypto Tax in India

2

The crypto tax law enforces a 30% tax on profits from crypto transactions, effective April 1.

Crypto Tax in India

3

Traders will not be able to set off losses from other crypto transactions.

Crypto Tax in India

4

Crypto gifts within a family would be exempt, but gifts above Rs. 50,000 ($660)

Crypto Tax in India

5

Crypto gifts outside the family would be taxable once in the hands of recipients.

Crypto Tax in India

6

The seller would be able to set off 1% TDS from their total tax liability of 30%.

Crypto Tax in India

7

The TDS mechanism is used to trace transactions and prevent tax evasion, according to the government.

Crypto Tax in India

8

Several crypto lawyers told CoinDesk that they believe challenging the crypto tax law (both 30% tax on profits and 1% TDS) would be a "bad move".

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