India’s ITR Deadline Nears: Crypto Tax Rules You Should Know
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India's ITR filing deadline is approaching and crypto investors must ensure accurate reporting of digital asset activity. Under the 2022 law virtual digital assets (VDAs) face a separate tax regime with a flat 30% tax on gains, and transactions including trades, airdrops and NFT purchases above prescribed thresholds must be reported for compliance.
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The Income Tax Return (ITR) filing deadline in India is coming closer, with investors having little room for mistakes. Before filing your ITR, you have to pay extra attention to how to report your digital asset transactions. Although India now has comprehensive crypto tax regulations, many investors are still unaware of these rules. Whether you have traded Bitcoin, participated in an airdrop, or bought an NFT, you have to stay compliant with India’s crypto tax rules.
Understanding India’s Crypto Tax Rules and ITR Filing
In 2022, the Indian government introduced crypto tax rules, including cryptocurrencies and other virtual assets (VDAs) under a separate tax regime. According to the law, investors who make profits by selling or transferring cryptocurrencies will be subject to 30% taxation. In addition to this, all crypto transactions above the prescribed threshold will …
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