30% tax to be levied on profit from crypto currency trade

In case of loss, it cannot be offset against this year's income nor can it be carried forward to next year.

Staff ReporterUpdated: Sunday, May 15, 2022, 01:27 AM IST
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‚ÄčIndore (Madhya Pradesh)

Profit incurred from the crypto currency trade will attract 30% income tax said chartered accountant Manish Dafaria, while addressing a seminar organised by CA Indore branch of ICAI here on Saturday.

Dafaria spoke on levy of tax on digital currency, mutual funds and shares. He said that 30% income tax will have to be paid on profit of digital currency trade. In case of loss, it cannot be offset against this year's income nor can it be carried forward to next year. He also informed about how losses made on mutual funds and shares can be offset against profit.

The second seminar was taken by Dr Sandeep Atre, in which he discussed how human nature can change and how to include it in the daily routine. He taught psychic ways to manage self and others well. Rajat Dhanuka gave the welcome address.

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