What if I have incurred losses in Crypto currencies?
Losses incurred in cryptocurrencies will neither be considered for adjusting it with any other income nor be allowed to be carried forward in future years.
Section 115 BBH(2b) clearly states that no set off of loss from the transfer of the virtual digital asset shall be allowed against income computed under any other provision of the Act and such loss shall not be allowed to be carried forward to succeeding assessment years.
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