{"id":146496,"date":"2025-01-10T18:51:21","date_gmt":"2025-01-10T16:51:21","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=146496"},"modified":"2025-01-10T18:51:21","modified_gmt":"2025-01-10T16:51:21","slug":"indias-crypto-tax-update-20x-gains-for-early-investors-with-this-coin","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/indias-crypto-tax-update-20x-gains-for-early-investors-with-this-coin\/","title":{"rendered":"India’s Crypto Tax Update: 20x Gains for Early Investors with This Coin"},"content":{"rendered":"
In 2022, the tax system will impose a 30% tax on profits derived from virtual digital assets (VDAs) or cryptocurrency earnings.<\/p>\n
This publication is sponsored. CryptoDnes does not endorse and is not responsible for the content, accuracy, quality, advertising, products or other materials on this page.\u00a0<\/strong><\/em><\/span><\/p>\n Amid these developments, this coin may be poised to explode as the next cryptocurrency to reach $1. Understanding the implementation of crypto tax in India is essential for investors as they need to adhere to the law. Let\u2019s take a closer look at the latest updates.<\/p>\n Click here to learn more about DexBoss<\/u><\/b><\/a><\/p>\n The Income Tax Act now includes two major key sections \u2013 Section 115BBH and Section 194S, which outline the taxation of cryptocurrencies, NFTs, tokens and other VDAs. Under these sections, a flat tax of 30% on profits from VDAs will be implemented, which will be further accompanied by a 1% tax deducted at source (TDS) on all cryptocurrency transactions. In addition, non-commercial income from VDAs may be subject to income tax at individual rates, further complicating the tax implications for investors.<\/p>\n Further tax split:<\/p>\n The Income Tax Appellate Tribunal (ITAT) in Jodhpur has passed legislation related to the world of cryptocurrencies. Transactions after April 1, 2022 and any crypto gains by investors come under the ambit of capital gains instead of income from other sources.<\/p>\n Investors must disclose their cryptocurrency income to comply. The relevant reporting forms include ITR-2 for capital gains and ITR-3 for business income. Failure to comply with this law will result in the imposition of penalties.<\/p>\n This emerging coin aims to become the next cryptocurrency to reach $1. DexBoss<\/u><\/a>is a cryptocurrency with the potential to offer 20x gains in 2025.<\/p>\n The DEBO pre-sale is progressing steadily, with 44% of the target funds raised, amounting to $332,347 of the $750,000. Early investors only have 19 days left, so they can still secure this token at the current discounted price of $0.011.<\/p>\n With the projected price of $DEBO reportedly set to reach $0.0505, the token could potentially see an impressive 400% rise soon, presenting an enticing opportunity for investors aiming to cash in on the next big trend in the crypto market.<\/p>\n
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Current tax structure for cryptocurrencies in India<\/h2>\n
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Income Tax Appellate Tribunal (ITAT) in Jodhpur<\/h2>\n
Investment Opportunities.<\/h2>\n