Crypto Tax Calculator in India

Crypto Tax Calculator in India

30% Tax on Crypto Income

Do you want to know how much tax you have to pay on your crypto transactions in India? Don’t worry; Using our “Crypto Tax Calculator,” you can calculate tax on cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), BNB, XRP, Cardano (ADA), etc.

Know How to File Crypto Tax Return Online

Crypto Tax Rate in India

Profit on Crypto (FY 2022-23) Tax Rate
Above Rs.0 30%

Crypto Tax Calculation Formula in India

Crytpo Tax = 30% of Crypto Profit
                  = (30/100) × (CryptoCurrency Sale Price – CryptoCurrency Buy Price)

The Union Budget 2022-23 has proposed a 30% tax on cryptocurrency assets. From April 1, 2022, cryptocurrency profits have been taxed at 30%. This tax rate applies to all virtual digital purchases (VDAs).

Suppose an investor buys a cryptocurrency for Rs. 10,000 and sells it for Rs. 11,000 generating an Rs. 1000 profit. In this case, they must pay a 30 percent tax of Rs. 1,000 i.e Rs. 300.

In addition to 30% of the tax, the 1 percent TDS is set to go into effect on July 1, 2022. The TDS will be taken from the total crypto transaction value.

Note: Crypto Losses cannot be set off against any other income of the taxpayer. So all loss transactions will be ignored for tax calculation, and only profit will be calculated.

About Binay Konwar

He is the Co-Founder & Editor-in-Chief of DealNTech. He loves technology and oversees the whole website. He follows the latest trends and is extremely passionate about mobile technology. He is also an SEO expert and working & researching in the field of Search Engine Optimization from last 5 years. Email: binay@dealntech.com

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