Will i be taxed for brave reward bats

Hello guys as u know from April 1 th Government announced 30% tax on crypto currencies
So what about brave rewards we will be taxed for that?
I transfer my rewards to gemini then to any indian exchange wallet then sell it in loss( for ex when bat price is 60 i deposit into india exchange wallet and sell when its 59 so i will sell in loss) then no tax for that. But will I be charged for transferring to gemini and then indian exchange wallet? 60% tax i should pay now?
Please some one help me to understand this …

this is not the forum for legal and/or tax advice… especially considering there are several countries represented in this community… nickels worth of free advice is to contact a tax professional

We don’t get lakhs bro to contact professional, professional’s charge money we get like 250 to 300 from bats for that we should contact professional and pay money?

Do you have like a public attorney in your country? It’s like attorney for the poor who can’t afford legal counsel so you can approach them for this matter for free. Hope you have something like this offered by your government.

Hi. I did a bit of research on this and from what you’re saying we’re not looking at large amounts here so it seems to me the hit might not be so hard for you. That is… based on this article at least (excerpts below): https://www.nationalheraldindia.com/india/exorbitant-crypto-tax-regime-introduced-by-modi-govt-will-drive-investors-to-grey-market

“The new crypto taxes include a 30 per cent capital gains tax on profits above Rs. 50,000 in a financial year and 1 per cent TDS at transactions above Rs. 10,000. The Rs 50,000 threshold for profits from crypto transactions to be taxed at 30 per cent is by any means a highly prohibitive measure.”

“What makes these tax measures even more painful is the provision of losses on one digital coin not allowed to be offset on profits of another coin. So, it means profits on all individual trading are to be taxed while losses are entirely on the investors.”

Beyond this, as others have said if you think you might be affected, you ought to get the right advice from a local tax attorney. Are there any online communities or forums offering legal assistance?

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It’s better to Consult CA for this, seeking advice on community forum related to taxes is not good practice!!

If you can’t afford CA to file your taxes and if your are paying taxes on your own then it’s better to pay flat 30% on all crypto rewards according to me.

thanks Sis for the help i will go through the article

:girl: Sis! :wink: Hope it helps. :blush:

Oh thanks Sis It was Helpful :blush:

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lol nice idea ahahhaa :joy: :joy:

No man. Once you earned an income its taxable. if u donate it it is considered as your personnel expenditure. so no relief from tax liability even if you tip to brave.com

There is no simple answer.

It all depends on the law of the state or country where you live. In some any reward is taxed. Others only tax if you cash out. Others have some exemptions. And finally in some there is no law applicable to crypto yet.

So, you need to consult a tax adviser in your region, or try to understand the law applicable in your state or country.