ethan_carter_engineer
Sat Jun 08 2024
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5 answers
1303
Do I pay tax if I receive crypto?｜Receiving crypto: , i.e. at the fair market value of the tokens as on the date of receipt on exchanges or DEXes. Tax will be levied at 30% on such value.Crypto assets received at the time of mining will be taxed on the value determined as per Rule 11UA
Could you clarify for me, am I required to pay taxes if I receive cryptocurrency? If so, how is the taxable value determined? Is it based on the fair market value of the tokens on the date of receipt, whether it's through exchanges or decentralized exchanges? And is the tax rate fixed at 30% for this value? Additionally, for crypto assets received through mining, how does the taxation work? Is it taxed on the value determined according to Rule 11UA? Thank you for your assistance in clarifying these points.
