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India’s Crypto Tax Will Take Effect on April 1, and Profits and Losses Cannot Be Offset Between Different Cryptocurrencies

By WebsCryptoMarch 22, 20221 Min Read
India’s Crypto Tax Will Take Effect on April 1, and Profits and Losses Cannot Be Offset Between Different Cryptocurrencies
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The Indian government has said that its upcoming virtual digital asset tax law will not allow gains in one cryptocurrency to offset losses in another. The move could adversely affect cryptocurrency adoption in the country.

Instead of letting investors use those profits to offset losses from another coin, the Indian government plans to levy a 30% tax on profits generated by each coin.

India’s crypto tax law will come into effect on April 1.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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