Time to shift funds from crypto to mutual funds or stocks before March 31?
The new tax laws on crypto and other digital assets will come into effect from 1 April 2022
Cryptocurrencies will now be taxed in India. The new tax laws on crypto and other digital assets will come into effect from 1 April 2022. Presenting the Union Budget 2022-23 in the Lok Sabha, Finance Minister Nirmala Sitharaman said the transfer of digital assets will attract a 30 per cent tax. Additionally, all transfers of such assets will attract 1 per cent tax deducted at source (TDS). In her Budget speech on 1 February, Sitharaman said gifts received in the form of cryptocurrencies will also be taxed at the same rate.