No deduction in respect of any expenditure (other than the cost of acquisition) shall be allowed while calculating income from Crypto Currencies, the crypto gain calculations will be done in the following manner.
Particulars
Amount
Sale Value of Crypto Currency
₹5,00,000
Less: Purchase Value of Crypto Currency
₹4,00,000
Gain/(Loss) on Crypto trading
₹1,00,000
Note: Above calculated gains will be taxed at a flat rate of 30%.
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