30% Tax on Crypto
From April 1, 2022 Govt of India introduced a tax on all Virtual Digital Assets including Cryptocurrencies.
This regulation includes that any profit earned from the transfer of digital assets would be taxed at 30 percent with no exemptions.
This would apply to the gifting of virtual digital assets as well.
TDS on Crypto
Govt of India has imposed 1% TDS or Tax Deducted at Source, on all Crypto sell transactions, from July 1, 2022.
TDS will be applied on the final amount you sell, and not just on the profits.
The TDS would only be applicable, if the transaction value in a Financial Year is more than Rs.10,000.
How weTrade takes care of its user for TDS?
weTrade is providing 100% refund on TDS by offering unlimited 1% iInstant Cashback on every Crypto Sell