and I sold half at 21k what tax do I have to pay? Because I can just say I sold the 40k btc at a loss and I will hold the 19k btc?
Pay 30% tax only on what btc you sell for inr only, what you hold nonneed to pay tax until you sell for inr
Do I need to pay 30% tax on foreign exchange profits
Pay tax when you convert to inr,
Depends on foreign exchange
Means only if I withdraw to bank I need to pay tax?
But you have to pay taxes only on gains buy I haven't made any gains yet?
Yes, for that you can calculate at what price u purchased those btc for inr which you sold
Tax paying only profit person No profit no tax Gain profit pay tax 30% in your profit
Every time you sell vda, you gotta pay tax on the profit( buying price - selling price)
But I don't want to pay on foreign exchange portfolio
I'll pay tax on Indian exchange but not on foreign exchange
Tax paying depend of your profit only not your investment You cannot gain any profit you don't pay any tax
Suppose I bought btc at 40k and some at 19k and I sold half at 21k what tax do I have to pay? Because I can just say I sold the 40k btc at a loss and I will hold the 19k btc?
You only gotta pay tax when you sell vda, you need to pay tax to government not to any exchange
I mean if I buy 1 Ethereum now at 1000$ then next Bull run it becomes 5000$ then 30% of 4000$ will be huge
How to save this tax?I hold Ethereum on foreign exchange
Please find way
I'm in huge loss so I need to avoid taxes on foreign exchange to cover all my losses
That's what bad you would be in losses and still pay taxes like wtf?
I won't pay single rs tax on my foreign exchange portfolio
Your loss same coin this year You can proceed set of no problem
U would hv to pay tax by even taking loan if u lose the profit
Hav u withdrawn into ur bank account?
No I Hold in USDT/USDC
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