Crypto Tax - How to File Crypto Tax in India | Bitcoin - Crypto Tax Explained | Crypto Tax India

Crypto Tax - How to File Crypto Tax in India | Bitcoin - Crypto Tax Explained | Crypto Tax India

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2024-12-23T09:21:09+0800

This video is for all you crypto investors! Don't forget about crypto tax this ITR filing season. Basically, when you SELL, TRADE, or SPEND Crypto, you'll have to pay a 30% tax. Let's find out everything about crypto tax in under 1 minute: When filing ITR, it's crucial to report gains from your crypto assets correctly. 1. There are now two types of taxes levied on crypto assets: a direct 30% tax on annual profits, along with any applicable surcharges and a 4% cess. 2. Additionally, you'll also need to pay a 1% TDS on every crypto transaction, and the TDS amount deducted will be eligible for ITR filing. 3. You cannot set off crypto losses against any other income. 4. If you received any crypto or digital asset as a gift worth more than Rs 50,000, you'll also have to pay a 30% tax on it. Did you make any profits in crypto this year? Let us know in the comments. Share this video with your friends crazy about cryptocurrency. Be smart, follow/subscribe Rupicard.