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Udit Akhouri
@AkhouriUdit
21 y/o ML researcher publishing for https://t.co/ihRyRa1by4 and IIT-Patna. Giving it back at https://t.co/fiZeWSG3dL (more at https://t.co/VMRpixRM3z)
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Feb 5, 2022
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8 tweets
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4 min read
Too much confusion about new crypto regulations?
- Do you need to pay tax on losses?
- How will the government track whether you invested or not.
- Taxing on ICO too?
✅ Read this thread -
#CryptocurrencyNews
#crypto
#NFT
#Startup
#India
#CryptoTax
1.
Here’s how it works -
Instead like stock market, where you cab adjust net tax payble, you can’t do it here.
If you invested in 2 stocks, and one gave ₹500 profit & ₹500 loss, you had to pay no tax.
But in crypto, whatever you get in loss, you have to pay tax on that ₹500.