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Author: Admin | 2025-04-28
A 1% TDS is deducted from each sale.Tax on crypto mining Mining income generated from crypto mining is also taxable at an income tax slab rate. The mining income can be classified as either income from business or other sources, depending on the type of mining activity.Tax on crypto stakingCrypto staking, which involves earning rewards for holding and validating transactions on a blockchain network, is subject to taxation. The staking income is taxed as income from other sources at the applicable income tax slab rates.Tax on crypto salaryReceiving a salary in cryptocurrency is taxable in India. Crypto salaries are taxable, and individuals must pay taxes based on the applicable income tax slabs.Tax on crypto referralsReferral bonuses earned from cryptocurrency platforms or services are also subject to taxation in India. These bonuses are considered income and are taxed based on the applicable slab rates.Tax on token sales (ICOs and IDOs)Initial Coin Offerings (ICOs) and Initial DEX Offerings (IDOs) are subject to taxation in India. The tokens received through ICOs and IDOs are treated as income from VDAs and are taxed at 30%.The taxation of cryptocurrencies in India has undergone significant changes with new laws and regulations. Stay updated on the latest regulations and guidelines for crypto taxation in India, and educate yourself on best practices to ensure compliance and make tax filing easier.It’s important to track all your transactions across exchanges and wallets, utilise crypto taxation software for accurate tax calculations, and seek professional assistance if needed for filing tax reports.
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