Crypto Tax: Here’s How You Can Report & Calculate Tax On Digital Assets

Crypto Tax In India: Every cryptocurrency purchase, sale, and transaction attracts a 30 per cent capital gains tax on profits, and there is no provision for offsetting losses against gains under Section 115BBH.

The Indian Income Tax Department has not provided specific rules for taxing mining and staking rewards. ( Image Source :Getty )

In the fiscal year of 2022, the Indian government formally recognised the presence of cryptocurrencies within the nation by categorising them as Virtual Digital Assets (VDAs) and implementing a structured taxation framework for these assets. As the tax filing cycle for the year 2023 concludes, we now approach 2024. Here is a guide for crypto investors to report their taxes effectively. How is Crypto Taxed in India? Every cryptocurrency purchase, sale, and transaction attracts a 30 per cent