New Year Update: Tax On Earnings From Crypto

A major change from the first day of the new financial year i.e. April 1, 2022 is the tax on cryptocurrencies. In the Budget 2022-23, Finance Minister Nirmala Sitharaman had announced a 30 percent tax on all virtual digital assets or crypto assets. Under this, if the investor gains on selling crypto assets, he will have to pay tax to the government. Along with this, whenever a crypto asset is sold, TDS will be deducted at the rate of one percent of its sale.