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Making money from cryptocurrency trading? Know how your earnings are taxed
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economictimes.indiatimes.comCryptocurrency isn’t just a Millennial or Generation-Z fad anymore as more institutions have started adopting this new-age asset class. But now the question is how to pay taxes on these transactions.
The Indian government is planning to compartmentalise virtual currencies and their tax treatment on the basis of their use case — payments, investment, or utility. Crypto trading is likely to see a formal taxation structure as the Ministry of Finance has reportedly formed a committee to find out if income made by crypto-trading could be taxed.
Ketan Dalal, Founder at Katalyst Advisors, said cryptocurrencies are a nascent asset class, even for tax experts, and no separate guidelines have been issued for this asset class. It will be helpful if
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