Taxation on Digital Asset (Cryptocurrency & NFTs)
summary
Explains that Indian law treats crypto and NFTs as virtual digital assets and taxes transfers under Section 115BBH at a flat 30% with no set‑off across coins, no expense deductions, and mandatory reporting; conversions between cryptos count as taxable transfers while simple wallet moves do not. Notes mining and airdrops are ordinary income, GST (potentially 28%) may apply to token issuance, and a 1% TDS rule exists. Uses statute citations, CA interpretations and Supreme Court precedent examples and gives practical workarounds (SIPs, lending protocols, futures) that aim to avoid TDS.
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chapters (11)
- 0:00Introduction by host
- 1:06About Coin Gabbar
- 7:47Crypto taxation basics
- 10:22Legality of crypto in India
- 13:1830% tax on crypto transfers
- 17:44Tax on crypto conversions
- 18:45No deductions on crypto profits
- 24:07No set-off of crypto losses
- 29:32Other crypto incomes explained
- 33:45TDS on crypto transactions
- 36:12Q&A session
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