India’s cryptocurrency tax kicks in from April – here’s what investors need to know

• Beginning April 1, a 30% tax will apply to all forms of virtual digital assets (VDA), or crypto assets, that are sold at a profit.
• A 1% TDS will be held back each time you sell a crypto asset, and will be set-off against the crypto tax at the end of the year.
• The crypto tax cannot be set-off against other business expenses.
• India’s Finance Minister has reiterated that the existence of a targeted tax does not give crypto ‘legal status.’

Source Business Insider

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