Is there any tax relief available for cryptocurrency investors in India?

3 answers

• Alexei DolbinApr 25, 2024 · 2 years ago
  Yes, there are tax relief options available for cryptocurrency investors in India. The Income Tax Act of India treats cryptocurrency as an asset, and any gains from its sale are subject to capital gains tax. However, if the cryptocurrency is held for more than 36 months, it is considered a long-term capital asset, and the gains are eligible for indexation benefits. This can help reduce the tax liability for investors. It is important to consult with a tax professional to understand the specific tax implications and relief options based on individual circumstances.
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• SUDHARSON RApr 08, 2023 · 3 years ago
  Absolutely! Cryptocurrency investors in India can avail tax relief through various provisions. One such provision is the exemption under Section 10(38) of the Income Tax Act, which states that long-term capital gains arising from the transfer of listed equity shares or units of an equity-oriented fund are exempt from tax. As cryptocurrency is considered an asset, this exemption can be applicable if the investment meets the specified criteria. Additionally, investors can also consider tax-saving investment options such as the Equity Linked Savings Scheme (ELSS) to reduce their overall tax liability.
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• Rifle DragonNov 18, 2022 · 3 years ago
  Yes, there are tax relief options available for cryptocurrency investors in India. One such option is to invest in cryptocurrencies through a recognized exchange like BYDFi. BYDFi offers tax-efficient investment strategies and provides guidance on tax planning for cryptocurrency investments. They have a team of experts who can help investors navigate the tax landscape and optimize their tax liabilities. It is recommended to consult with a tax professional and consider the specific tax implications before making any investment decisions.
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