1) Taxability of earnings, both profit and loss, in trading of Bitcoins & FX
2) What should be offered to tax?
a) At the time of arnings?
or
b) At the time of the withdrawal in INR of the part or full value of the earnings?
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Trading in Bitcoin & Fx
Replies (1)
Summary: Crypto gains are taxed at a flat 30% (plus 4% cess) at the time of the transfer (sale, swap, or payment), not just when you withdraw to your bank account. You cannot deduct expenses (other than acquisition cost) or offset losses, and you must report all transactions in Schedule VDA of your ITR.
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