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Will Indian investors have to pay 42% income tax on their crypto assets

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AMB Crypto

Thu, Jan 13, 2022

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According to India’s Economic Times, there is a possibility that crypto assets might be taxed.

Economic Times focused on the question of taxing crypto returns as business income , meaning investors would have to pay more .

If the idea is enforced, investors might have to pay income tax on their crypto returns, to the magnitude of 35% to 42% for the same.

A WazirX spokesperson has since denied allegations of tax evasion, and claimed that the company has paid “additional GST.” Yet, other changes are taking place in the Indian crypto ecosystem.

While crypto regulation might still feel murky to Indian investors, the government isn’t hiding its keen interest in CBDCs or the use cases for blockchain technology.

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