ITR filing: Key things to know while filing income tax return on crypto gains
The deadline for filing ITR for FY 2022-23 is July 31, 2023. It is important for taxpayers to understand the rules and implications of crypto taxation
Filing ITR on crypto gains: The Union government imposed a 30% tax on crypto profits in Union Budget 2022. A 1% TDS on sales was also introduced. The new Income Tax Return (ITR) forms for the financial year 2022-23 now have a dedicated section called Schedule - Virtual Digital Assets (VDA) for reporting gains from crypto/NFTs and other VDAs. The last date for filing an income tax return (ITR) for FY 2022-23 is 31st July 2023.