2024-12-24T16:40:09+0800

The Income Tax Appellate Tribunal (ITAT) has ruled that profits derived from the sale of cryptocurrency prior to April 1, 2022, will be taxable as capital gains. However, taxpayers will be eligible to avail exemptions under the Income Tax Act for such gains. Despite being a virtual asset, Bitcoin will be treated as a capital asset, meaning that any gains from its sale will be classified as capital gains. This ruling follows the Finance Act 2022, which introduced a 30% flat tax rate on gains from virtual digital asset transfers, with no deductions allowed against the proceeds from such transactions. #crytpo #cryptotaxinindia #digitalassets For more videos subscribe to our channel: https://www.youtube.com/@NDTVProfitIndia Visit NDTV Profit for more news: https://www.ndtvprofit.com/ Don't enter the stock market unaware. Read all Research Reports here: https://www.ndtvprofit.com/research-r... Follow NDTV Profit here Twitter: https://twitter.com/NDTVProfitIndia , https://twitter.com/NDTVProfit LinkedIn: https://www.linkedin.com/company/ndtv... Telegram: http://t.me/ndtvprofitnews