A report by Economic Times revealed that Bitcoin investors in India may begin to pay tax on all their crypto income. According to the Economic Times report, two sources familiar with the plans confirmed the news. For now, experts expect that the tax on digital assets could be up to 30%. The report further said that the Indian tax regulators have not decided on the taxation rate for cryptocurrencies.
A by InsideBitcoin noted that the Indian Income Tax department is keeping watch on crypto investors by tracking banking channels.
The CEO of CoinDCX crypto exchange, Sumit Gupta commented on the rumored taxation:
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