Are cryptocurrencies taxable?

Jasman

Do I need to take care of any kind of taxes?

Nitin

Income from the transfer of virtual digital assets such as crypto and NFTs will be taxed at 30% at the end of each financial year

vashuotwal

yes, Any cryptocurrency asset profits are taxed at a rate of 30%

Preetitusam

If you engage in any of the following transactions, you will be required to pay a 30% tax:

Spending cryptocurrencies to purchase goods or services.
Exchanging cryptocurrencies for other cryptocurrencies
Trading cryptocurrency using fiat currency such as ₹(INR)
Receive crypto currency as payment for a service
Receiving cryptocurrency as a gift
Mining cryptocurrency
Drawing a salary in crypto
Staking crypto and earning stake benefits
Receiving Airdrops

Abhishek

:-  Income from the transfer of virtual digital assets such as crypto and NFTs will be taxed at 30% at the end of each financial year.

:-  No deduction, except the cost of acquisition, will be allowed while reporting income from the transfer of digital assets.

Aryan

Profits from selling, swapping, or spending VDAs - including crypto - are subject to a flat 30% tax, regardless of whether you have a short or long-term gain.

Kunal

The gains made from trading cryptocurrencies are taxed at a rate of 30%(plus 4% cess) according to Section 115BBH

joy

yes, cryptocurrencies are taxable.