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Crypto tax in India remains at 30% despite industry calls for reduction
India continues to retain its controversial crypto tax regime. Cryptocurrencies were left out of the annual budget announcement for the 2024-25 session. Indian Finance Minister Nirmala Sitharaman, in her speech on July 23, decided to keep the crypto tax rules unchanged. As such, crypto investors in India are subject to a 1% tax-deducted-at-source (TDS) on every crypto transaction. Meanwhile, profits generated from cryptocurrency trading or transfer of assets are taxed at 30%. Further, the stringent rules do not allow crypto losses to be set off against any other income, such as salary or business income, nor be ... (full story)
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- Posted: Jul 23, 2024 11:00am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 154
