How crypto is taxed in India?
As per Section 115BBH of the act. where the total income of an assessee includes any income from the transfer of any virtual digital assets (crypto-currencies) such gains shall be taxed at the rate of 30% plus applicable surcharge & cess.
Tax calculation on Crypto Gains:
|Sale Value of Crypto-currency||₹10,00,000|
|Purchase Value of Crypto Currency||₹8,00,000|
|Gains from Crypto Currency||₹2,00,000|
|Tax on Above @30%||₹60,000*|
* Above tax is subject to Surcharge & cess (if applicable).
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