Which ITR Section To Report Cryptocurrency Earnings And How Much Tax To Pay | Paisa Live

Today is the last day to file your Income Tax Return (ITR). If you haven't submitted it yet, make sure to do so today to avoid penalties ranging from ₹1,000 to ₹5,000. Different types of income are subject to different tax rates. However, if you're earning from cryptocurrency, it's crucial to understand how to report it and the tax implications. Cryptocurrency earnings should be reported under the appropriate section of the ITR. The taxation on cryptocurrency can vary based on the nature of gains (short-term vs. long-term) and prevailing tax laws. Ensure you accurately report your earnings and calculate the tax due to avoid any issues with the tax authorities.