to invest or not to invest?- the Indian crypto dilemma. - Deepstash
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What Does The Government Say?

What Does The Government Say?

With the announcement of Union Budget 2022, the proposed Section 115 BBH in Budget gave away a significant progressive and futuristic outlook of the government with respect to cryptocurrency in the country.

The focus on digital innovation while promoting Blockchain technology touched upon the key points that are supposedly meant to help the industry create sustainable growth. The first step in that direction came with classification of cryptocurrency as virtual digital assets. As per the Finance Bill, the term virtual digital assets includes both cryptocurrency and non-fungible tokens(NFTs) .


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Indian Crypto Investor Woes

Indian Crypto Investor Woes

The main question that arises is how does it impact a retail investor in crypto?

  • Tax Deducted at Source will amount to 1% of the entire transaction amount.
  • Any profits made from sale of cryptocurrency will be taxable at a flat rate of 30% w.e.f April 1, 2022.
  • Loss incurred from digital asset holding can not be set off against any other income.
  • The tax is on the basis of cumulative net gain on a transaction. For example, in case the profit from one cryptocurrency is ₹20000 and the loss is ₹6000, then the net taxable amount is ₹14000.
  • The only deduction to be allowed is the cost of acquisition.


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India has the potential to become a crypto superpower, as it is emerging as one of the hottest internet markets in the world, with almost 750,000,000 users , and millions waiting to join the Great Internet Factory.

Blockchain data platform Chainanalysis, published a report ranking India second behind only Vietnam in the list of countries seeing the speediest growth in the realms of cryptocurrency adoption. With no official estimates of the current cryptocurrency users in the Indian market, the unofficial number is more than 20 million crypto investors.


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The donations to Ukraine in cryptocurrency have showcased the potential that these unregulated digital assets hold. With the ability to eschew bureaucratic red tape, crypto has safeguarded and funded the war from Ukraine’s side.

However, the counters in Russia, have alleged that legalization of cryptocurrency could save the country from the current dearth of funds and jumping the SWIFT ban that was imposed on the country.

With an untapped potential and still looking into the mainstream world, the journey to become acceptable around the globe, is still a long way to be walked upon.


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