FAQs on Crypto Tax in India
Q. Do I have to pay taxes on my crypto?
A. Yes, you have to pay taxes at the rate of 30% on cryptos only when you sell them for profit and transfer the amount to the bank account.
Also, any payment transfer made concerning crypto transactions will attract a TDS of 1%.
Q. How do taxes work with crypto?
A. All types of gains arising from a crypto transaction are taxed at 30%, irrespective of your income tax slab and period of holding.
Q. Do I have to pay taxes on overall transactions?
A. You have to pay taxes at the rate of 30% on cryptos only when you sell them for profit. In case, you incur loss in cryptos, the loss will not be adjusted with the profit earned.
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