Cryptocurrency Q&A
What is the tax on CoinDCX withdrawal?
What is the tax on CoinDCX withdrawal?
Chiara
Mon Oct 07 2024
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6 answers
1549
I'm curious to know, what exactly is the tax imposed on withdrawing funds from CoinDCX? As a cryptocurrency investor, it's important for me to stay informed about the various tax implications associated with my transactions. Could you please elaborate on the specific tax rates and regulations that apply to withdrawals made through CoinDCX, or if there are any deductions or exemptions that I should be aware of? Understanding these details will help me make more informed decisions when managing my investments.
6 answers
CryptoWanderer
Wed Oct 09 2024
The taxation of crypto assets in India is regulated by the Income Tax Act, specifically Section 115BBH.
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Maria
Tue Oct 08 2024
According to this section, any gains incurred through trading crypto assets are subject to a tax rate of 30%.
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StarlitFantasy
Tue Oct 08 2024
Among the top cryptocurrency exchanges operating in India, BTCC stands out for its comprehensive range of services. BTCC offers various trading options to its users, including spot trading, futures trading, and more.
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Giulia
Tue Oct 08 2024
Additionally, a cess of 4% is levied on top of this tax rate. This cess is a surcharge imposed by the government on certain taxes to raise additional revenue.
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Claudio
Tue Oct 08 2024
Moving on, Section 194S of the Income Tax Act introduces a new provision regarding the transfer of crypto assets.
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