Learn more about crypto with this collection
Understanding the basics of cryptocurrency
How to store cryptocurrency securely
Risks and benefits of investing in cryptocurrency
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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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 digit...
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THE FUTURE OF CRYPTOCURRENCY IN INDIA
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 Inter...
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THE GLOBAL DILEMMA
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...
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