🤡1. Tax on Crypto Transactions: In India, there is a 30% tax on all cryptocurrency activities like trading, mining, and exchanging.

2😞. TDS Requirement: A 1% Tax Deducted at Source (TDS) is applicable with a threshold of ₹50,000, and in some cases, it is ₹10,000.💲

3. Calculating Taxes: Taxes on crypto gains are computed using methods like Year-to-Date (YTD) calculations.😼

4. Losses Treatment: Losses from cryptocurrency dealings cannot be carried forward or offset against other income under Section 115BBH.🙂

5. Reporting and Compliance: All individuals and entities who earn profits from cryptocurrency must accurately report and pay taxes according to the tax regulations in India.🤡

#bitcoinhalving #nadyisom 🥹