What are the tax implications for NRIs in India regarding cryptocurrency investments?

1 answers

• Dec 26, 2021 · 3 years ago
  As an NRI in India, it's important to understand the tax implications of investing in cryptocurrencies. The Indian government considers cryptocurrencies as assets, and any profits you make from trading or selling them are subject to taxation. If you hold cryptocurrencies for less than three years, the gains will be treated as short-term capital gains and will be taxed at your regular income tax rate. However, if you hold them for more than three years, the gains will be treated as long-term capital gains and will be taxed at a flat rate of 20%. It's crucial to keep accurate records of your cryptocurrency transactions and consult with a tax professional to ensure compliance with the tax laws in India.
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