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Cryptocurrency Taxes in India: A Comprehensive Guide

Filing for Financial Year 2023-24

Attention, all cryptocurrency investors! Significant changes are coming to cryptocurrency taxation in India for the financial year 2023-24 and assessment year 2024-25. Get ready to understand the latest regulations and ensure compliance.

ITR-2 Form for Crypto Taxes

To declare your cryptocurrency taxes, you must use the ITR-2 form if you meet certain criteria, such as having income from capital gains, foreign assets, or income from multiple sources, including cryptocurrency earnings.

Income and Payment Tax Implications

Remember, cryptocurrency is not entirely tax-free in India. If you receive cryptocurrency as payment for goods or services, you may need to report it as income and pay applicable taxes.