🚨 𝐈𝐧𝐜𝐨𝐦𝐞 𝐓𝐚𝐱 𝐑𝐞𝐭𝐮𝐫𝐧 𝐒𝐞𝐚𝐬𝐨𝐧 𝐑𝐞𝐦𝐢𝐧𝐝𝐞𝐫: 𝐀𝐫𝐞 𝐘𝐨𝐮 𝐑𝐞𝐩𝐨𝐫𝐭𝐢𝐧𝐠 𝐘𝐨𝐮𝐫 𝐂𝐫𝐲𝐩𝐭𝐨 𝐈𝐧𝐜𝐨𝐦𝐞 𝐂𝐨𝐫𝐫𝐞𝐜𝐭𝐥𝐲? With the rise of digital assets, cryptocurrency taxation in India has become a hot topic this ITR season. Here’s a quick breakdown for those still unsure about how their crypto trades and investments are taxed: 🔍 𝐇𝐨𝐰 𝐢𝐬 𝐂𝐫𝐲𝐩𝐭𝐨 𝐓𝐚𝐱𝐞𝐝 𝐢𝐧 𝐈𝐧𝐝𝐢𝐚 (𝐅𝐘 𝟐𝟎𝟐𝟒-𝟐𝟓)? ✅ Flat 30% Tax on Gains: Under Section 115BBH, any income from the transfer of crypto assets (Bitcoin, Ethereum, etc.) is taxed at a flat 30%, irrespective of your income slab. ✅ No Deductions Allowed: You cannot claim deductions for any expenses (other than the cost of acquisition). Forget adjusting losses against gains from other heads of income — not allowed! ✅ 1% TDS on Transactions (Section 194S): Every crypto trade attracts 1% TDS on the transaction value if the annual threshold exceeds ₹50,000 (₹10,000 for certain categories like individuals with business income). 📊 Examples of Taxable Events: • Selling crypto for INR • Exchanging one crypto for another • Spending crypto to buy goods/services 🚫 𝐖𝐡𝐚𝐭 𝐀𝐛𝐨𝐮𝐭 𝐋𝐨𝐬𝐬𝐞𝐬? Crypto losses cannot be set off against any other income (like salary, business, etc.). Also, these losses cannot be carried forward to future years. ⸻ ⚠️ 𝐂𝐨𝐦𝐦𝐨𝐧 𝐌𝐢𝐬𝐭𝐚𝐤𝐞𝐬 𝐭𝐨 𝐀𝐯𝐨𝐢𝐝: ❌ Not reporting crypto income at all ❌ Misreporting peer-to-peer trades ❌ Ignoring TDS already deducted by exchanges ⸻ 💡 𝐏𝐫𝐨 𝐓𝐢𝐩: Maintain a clear transaction trail — dates, values, platforms, and wallet details. This makes tax filing smoother and helps in case of future scrutiny. ⸻ ✅ If you’ve earned or traded in crypto, make sure to report it correctly in your ITR this season. Transparency is key. #CryptoTax #IndiaTax #ITR2025 #IncomeTaxReturn #DigitalAssets #Cryptocurrency #TaxFiling #Finance #Bitcoin #TaxCompliance