MultiversX Tracker is Live!

TDS and Tax in India?

All Cryptocurrencies

by COINS NEWS 69 Views

Trying to figure out how much TDS and tax I will need to file in India.

I use onrampmoney to buy some usdt. Transferred it to MEXC & metamask and have been trading there.

Do I need to file 1% TDS for every single trade I make? (Crypto to crypto)

How do I even track the profits? Eg. I buy coin 1 for 1ETH, it's value doubles. I "take profits" by converting it back into ETH and buy another coin for 2 ETH. It's value plummets to 0.5 ETH. I convert the 0.5 ETH to inr and want to withdraw. How much tax do I now owe? Do I file TDS for both transactions? Do I pay 30% tax on the first transaction and 0 on the second?

Now imagine this with 1000s of transactions. How the fck am I supposed to keep track of on chain transactions?

Basic laws I searched online: 1% TDS for buying crypto 1% TDS for crypto to crypto transaction including stables and 30% tax for profits 1% TDS and 30% tax for selling crypto

submitted by /u/fatbloop
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments