GOI’s Cryptocurrency tax clarification: Losses in one crypto asset cannot be set off against another

GOI's Cryptocurrency tax clarification: Losses in one crypto asset cannot be set off against another

Recently, during the budget, Finance Minister Nirmala Sitharaman announced that Virtual Digital Asset (VDA) like Cryptocurrencies and NFTs will be taxed at 30%. Yesterday the Government of India (GOI) made some announcements giving further clarification on the tax on VDA. The first announcement is that the loss on one digital asset cannot be offset with … Read more