Tax imposed on crypto

Brave Rewards
1

Indian government has imposed tax on the profits earned through the crypto.
Everyone who is having profit will have to pay 30% tax.

Do I have to pay tax on the brave rewards that I’ll receiving?

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2

I am having same issue and if we sell on gemini how are we supposed to pay tax because gemini tild me that they do not pay tax?

3

You have to pay tax at the end of the year. You’ve file ITR and pay it yourself.

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4

how i dont have a pan card then how am i supposed to pay?
if i transfer my crypto from gemini to any other indian exchange then how do i have to pay tax for that?

5

Which Indian exchange do you use?

6

I am asking about any exchange if i transfer frok gemini to that exchange.
As we know gemini doesnt charge withdrawal fee so how are we supposed to pay?

7

And what i am asking is if i sell my bat on gemini now is it applicable to tax?

8

@Donkja @numaankhan07 30% is too much yaar.
Agar 1 BAT hame mila to uspe tax lagega. ya fir hamne wo Bat sell nahi kiya aur fir uska price badha to jo profit huwa uspe tax lagega ?
eg.
1 BAT price when credited = 70 INR (30% Tax on whole 70 = 21 INR)
OR
1 BAT price when credited = 70 INR + Price increased 30 INR = (30% Tax on profit of INR 30 only = 9 INR)
OR
1 BAT price when credited = 70 INR + Price increased 30 INR = (30% Tax on 100 INR = 30 INR)
???

9

Yeah i also want to know what will happen in case of taxes???

10

See. I don’t know if we have to pay tax on bat in uphold.
But inorder to withdraw it you need to transfer it to the Indian exchange. If you will sell bat on profit than you’ve to pay tax.

For instance, I received the bat from brave @70 but I’ll sell it @90 than I’ve to pay tax after one year. I need to file ITR. And I’ve to pay it by myself. No crypto exchange app will deduct it.

11

Okay so cryptoexchange will not deduct any tax but if i dont have a pan card?

12
13

What i am asking is that if i recieve 1 bat from brave in my gemini and its price increases and i then transfer it to indian exchange am i supposed to pay tax?
As far as i know transactions on gemini are free and how will tax take place?

15

Okay now if i tranfer them from gemini to my indian exchange do i have to pay tax?

16

Then what does tds mean?
Does it mean when i transfer from my account to another i have to pay tax?

17

TDS (Tax deductions at source) will be levied by the exchange. It will come in effect from 1 July, 2022. More here-

18

Okay so what i am asking is do i have to pay tax if i tranfer from gemini to indian exchange?
Or when i sell and withdraw money from indian exchange?

20

Okay so i have to file itr at the end of year to pay tax?
And when i sell them how do i have to pay tax will it be deducted by exchange or i have to file itr?
And if i sell on gemini how am i supposed to pay tax because gemini does not require pan card?

21

I am just trying to clarify please if you are bothered by this i am sorry but i am trying to learn about all this and thank you for help

22

You told if i withdraw money from exchange i dont have to pay tax then what is this 30% tax on please can you clarify?