Income Tax on Crypto and ITR filing AY 2023-24 #ITRfiling #cryptocurrency #bitcoin #viral

Income Tax on Crypto and ITR filing AY 2023-24

Income Tax on Cryotocurrency if imposed from 01.04.2022 in India .ITR for AY 2023-24 requires reporting in seperate schedule of VDA refer video https://youtu.be/ynaM-eNXt7w

In India, income tax is applicable to cryptocurrency transactions. The tax treatment of cryptocurrency is determined by the purpose for which it is held and used. The following are some of the key points to consider regarding income tax on crypto in India:

Crypto mining is considered a taxable activity, and any income earned from mining activities is subject to income tax.

Profits made from cryptocurrency trading or investment are considered capital gains and are subject to tax.

Losses are not allowed to be set off.
The tax return for cryptocurrency transactions should be filed under the head "Income from Capital Gains."





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Do I have to pay taxes on my cryptocurrency gains?

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