BTCC
/
BTCC Square
/
Global Cryptocurrency
/
India’s Crypto Tax Revenue Jumps 63% to ₹437 Crore in FY 2024 – A Bullish PI for Digital Asset Adoption
India’s Crypto Tax Revenue Jumps 63% to ₹437 Crore in FY 2024 – A Bullish PI for Digital Asset Adoption
8
1
[TRADE_PLUGIN]PIUSDT,PIUSDT[/TRADE_PLUGIN]
PI News -
India's VIRTUAL digital asset (VDA) taxation framework has generated a significant ₹437.4 crore in FY 2023-24, marking a 63% increase from the previous fiscal year. The strict policy imposes a flat 30% tax on crypto gains without allowing loss offsets, reflecting New Delhi's cautious stance toward speculative trading in cryptocurrencies and NFTs.
Effective since April 2022, the policy treats VDAs as a distinct asset class—disallowing deductions beyond acquisition costs while prohibiting loss carryforwards. This fiscal strategy aligns with global regulatory trends, though India's non-deductible loss provision remains uniquely restrictive among major economies.
By:
Previous
DOJ Closes Investigation Into Kraken Co-Founder Jesse Powell
Next
Trump Unveils His AI Strategy: Towards An American Technological Dominance!
