Investors rush to seek tax advice on crypto investments
economictimes.indiatimes.cominvestors who invest or trade frequently in cryptocurrencies are rushing to their advisors to figure out the tax implications of their investments, even as the government looks to introduce a legal framework around cryptocurrencies. Investors want to know the income tax implications on their returns, which can range anywhere up to 30%, say tax experts, given the regulatory vacuum around cryptocurrencies.
Tax experts are divided as to whether the returns from crypto assets must be categorised as capital gains-what is applicable on assets such as equities or real estate — or business income. «As regards tax treatment of sale of cryptocurrency held by individual investors, the principles governing taxation of securities as capital gains versus
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