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India Bans Offsetting Loss on One Crypto With Gain from Another

March 21, 2022, 10:58 AM

Clarifying its income tax rule, the Indian government said infrastructure cost incurred while mining of crypto assets would not get any exemption under law, Pankaj Chaudhary, India’s junior finance minister, said Monday.

  • Chaudhary was clarifying details on India’s tax rules from crypto income to lawmakers in Parliament
  • The loss on transfer of one digital asset can’t be offset against income from another token: Chaudhary
  • NOTE: India has imposed a 30% tax on income from crypto assets
  • NOTE: How India Plans to Develop Crypto on Its Own Terms

To contact the reporter on this story:
Sidhartha Shukla in Mumbai ...